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• complete and involving the following initiatives as identified in the <br /> Strategic Plan: <br /> • complete a focus study <br /> • complete a market study <br /> 9. Micro Loan Fund Guideline Modifications <br /> Staff has initiated modifications to the Micro Loan Fund Guidelines <br /> and is currently in discussion with the Micro Loan Fund Finance <br /> Committee regarding these draft modifications. Upon review by the <br /> Finance Committee, the guidelines will be brought before the full EDA <br /> for final action. <br /> The two primary modifications which staff has drafted include the <br /> following: <br /> • a reduction of the interest rate to 3 points below prime <br /> • allowing for the possibility of loans in an amount greater than <br /> $50,000. <br /> \\elkriver\sys\shrdoc\eda\meetings\agmmo811.doc <br /> • <br />