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3 . Purpose of Loan: <br /> The EDA loan would put this project within our finap cial Teach. <br /> Our first priority is expansion room for Custom Cutter Grinding <br /> Corp. so it doesn ' t stagnate. <br /> Our second priority is incubator size industrial lease space <br /> for new businesses or businesses which would like to move to <br /> Elk River. <br /> Our third priority is lease income. <br /> 4 . Cost of Project: <br /> A) Land $ : 25 ,000 <br /> B) Buildings (attach plans & costs) $ 349, 568 <br /> C) Equipment/Machinery/Fixtures (attach list <br /> and estimated costs) $ <br /> D) Remodeling S <br /> E) Industrial Inventory/Working Capital $ �� <br /> F) Other (attach description) 9a $ y000 <br /> TOTAL COSTS $_ 373-5-"' <br /> 5 . Proposed Financing: <br /> SOURCE NAME TERMS AMOUNT <br /> A) Bank Loan $a,•)t tri Gt/k eae,. /SY,- $ 2 `i S', co o <br /> B) Bank Loan /$ ,,-_ <br /> C) Other Private Funds $ _,,-- <br /> D) Applicant Contribution $ 8Qo <br /> E) Other <br /> F) Fed Grant/Loan $ <br /> G) State Grant/Loan $ <br /> H) This Loan 16 D2, e_ prig $ 50 ,000 • <br /> TOTAL FINANCING $ 37gs-68 <br /> -2- <br />