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3 . Purpose of Loan: <br /> To purchase restaurant equipment and small warps <br /> (i.e. dishes, silverware, etc. ) along with tables, rhairG, <br /> • and booths . <br /> 4 . Cost of Project: <br /> A) Land $ <br /> B) Buildings (attach plans & costs) $ <br /> C) Equipment/Machinery/Fixtures (attach list <br /> and estimated costs) $ 85, 000 <br /> D) Remodeling LEASEHOLD IMPROVEMENTS $ 80, 000 <br /> • E) Industrial Inventory/Working Capital $ 45. 000 <br /> F) Other (attach description) $ <br /> TOTAL COSTS $ 215, 000 <br /> 5 . Proposed Financing: <br /> SOURCE NAME TERMS AMOUNT <br /> 1st National Bank <br /> A) Bank Loan of Elk River 5 yr. 10% $ 601000 <br /> B) Bank Loan $ <br /> C) Other Private Funds Family members 7 yr. 4. 5% $ 80, 000 <br /> D) Applicant Contribution $ 45, 000 <br /> E) Other $ <br /> F) Fed Grant/Loan $ <br /> G) State Grant/Loan $ <br /> H) This Loan EDA 10yr. 6% ? $ 7.5 Doo <br /> • TOTAL FINANCING $ 215, 000 <br /> -2- <br />