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ELK RIVER ECONOMIC DEVELOPMENT AUTHORITY <br /> . MICRO LOANS <br /> Current Current Dec. 31, 1994 <br /> Loan Loan Interest Term Monthly Principal <br /> Borrower Date Amount Rate (Months) Pa ent Outstandin e <br /> Anoka Medical Properties 7/1/90 $100,000 8.75% 120 $1,253.27 $65,469.55 <br /> Alltool (1) 6/1/89 $200,000 9.00% 120 $2,533.52 $110,462.45 <br /> Beaudry Convenience* 12/28/93 $50,000 7.25% 120 $585.57 $46,655.02 <br /> Designing Women of Elk River* 2/18/93 $21,500 7.75% 180 $198.29 $19,670.98 <br /> (2) 2/18/93 $6,000 6.00% 60 $0.00 <br /> Elk River Motel Properties 7/1/90 $32,500 7.00% 65 $377.35 $26,139.98 <br /> Indy Lube* 10/28/93 $24,700 7.75% 180 $231.43 $23,605.01 <br /> Pomeroy Tool 7/1/92 $25,000 6.50% 180 $217.78 $22,324.94 <br /> Pure Steam (3) 4/1/92 $25,000 3.50% 48 $558.90 $0.00 <br /> R&D Sales* 12/8/93 $17,500 7.25% 180 $156.95 $16,373.80 <br /> Roma Tool (4) 7/1/91 $500,000 10.00% 240 $1,000.00 $474,441.76 <br /> Second Generation Properties* 11/23/92 $50,000 6.75% 240 $378.88 $47,303.34 <br /> Tescom* 5/18/93 $50,000 6.00% 120 $555.10 $44,268.46 <br /> 0 (5) 4/22/94 $250,000 4.50% 120 $2,590.98 $238,294.61 <br /> LaRose Enterprises 3/29/94 $25,000 6.00% 84 $365.21 $23,293.10 <br /> Woodsmen Quality Projects* 1/11/94 $18,750 7.25% 180 $170.80 $18,039.90 <br /> Water Laboratories, Inc. 5/5/94 $15.000 6.00% 180 $126.50 $14.687.11 <br /> TOTAL $1,410,950 $11,300.53 $1,191,030.01 <br /> (1)The City retains the first $100,000 of principal plus interest. The remainder is payable <br /> to the State. <br /> (2)This loan was prepaid in 1994. <br /> (3) Due to Company relocation,this loan became due and was paid in full in 1994. <br /> (4)The terms of this loan were renegotiated in 1991;the renegotiated terns are as listed. <br /> Monthly payments increase to $1,500.00 on January 1, 1995. The City retains the first <br /> $100,000 of principal plus interest. The remainder is payable to the State. <br /> (5)The City retains all principal and interest payments from this Block Grant. <br /> The payments are credited to the Block Grant Micro Loan Fund for use <br /> under the guidelines of the Block Grant program. <br /> *Variable Interest Rate. <br /> i <br /> [MICROLNS.XLW]LOANSUM.XLS 1/6/95 <br />