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The company plans to lease approximately 1,000 square feet of space in or <br /> near the metro area. The location is not important to customer development <br /> but will be important for recruitment of employees. Initially the staffing will <br /> include two of the owners and two technical support people to process WWW <br /> site information. <br /> The purpose of the financing is to purchase equipment, fund software <br /> development and secure the necessary working capital needed to market the <br /> service. <br /> • <br /> PROJECT FINANCING <br /> The following is a listing of the uses and sources of funds for establishment of <br /> this business in Minnesota: <br /> USES OF FUNDS <br /> Technology Set-up $25,000 <br /> Equipment <br /> Tricord Server 31,800 <br /> Computer Equipment 17,000 <br /> Software 12,000 <br /> Office Equipment 10,000 <br /> Working Capital 85,000 <br /> TOTAL USES OF FUNDS $180,800 <br /> SOURCES OF FUNDS <br /> Bank/SBA Low Doc Loan (11%, 10 years) $50,000 <br /> Central Minnesota Initiative Fund (5%, 5 years) 37,500 <br /> Elk River Micro Loan (8.75%, 10 years) 37,500 <br /> Owners' Equity 55,800 <br /> TOTAL SOURCES OF FUNDS $1_811$0 <br />