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• YEAR 1 ONE 1 TWO 1 THREE 1 FOUR 1 FIVE <br /> Sales ; $278, 9451 $305,5391 $338, 129 1 $374,6441 $409 ,904 <br /> Net Income ; $ 20,9211 $ 29,0351 $ 38,723 1 $ 41,8671 $ 50,798 <br /> Historical statements of income and balance sheets on Indy <br /> Lube, plus a personal financial statement, are also included in <br /> the application packet. <br /> ACTION REQUESTED <br /> Upon its review of the Indy Lube loan request, the EDA Finance <br /> Committee is asked to make a recommendation to the EDA <br /> Commissioners on the funding of this loan. The EDA will meet <br /> on June 14, 1993, to consider this matter. <br /> As with previous EDA loans, this loan would be secured by a <br /> mortgage on the Indy Lube site plus a Promissory Note and <br /> Personal Guarantee signed by the applicant. <br /> Company founder, Mr. Jim Sapp, and the primary lender for the <br /> Minnesota expansions, will be in attendance at the Finance <br /> Committee meeting. In addition, Mr. Sapp has retained Mike <br /> Mulrooney of Advance Resources for Development to package the <br /> • loans for the Minnesota expansions . He will also be in <br /> attendance. <br /> AVAILABILITY OF FUNDS <br /> The EDA Revolving Loan Fund had a cash balance (that is, funds <br /> available for projects) of $157,000+ as of May 31, 1993 . <br /> This figure excludes investment earnings attributable to this <br /> account from January 1st. <br /> • <br />