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Jeff, <br /> <br />Since we have not had our loan committee meeting yet, I cannot issue a commitment letter. However, <br />listed below are the proposed terms and conditions for our transaction: <br /> <br />Borrower: Orluck Industries, Inc. <br />Amount: $200,000 <br />Interest Rate: 7.00 % fixed <br />Amortization: 7 years <br />Payment: $3,020 monthly <br />Collateral: Junior lien on business assets <br />Guaranty: Mark Orluck <br />Insurance: Property and Life <br />Contingency: SBA approval <br /> <br />If you have any questions regarding this matter, please contact me. <br /> <br />Sincerely, <br /> <br />Dan Bullert <br />Business Finance Manager <br />Initiative Foundation <br />405 1st St. SE | Little Falls, MN 56345 <br />Ph. (320) 631-2013 | www.ifound.org <br />