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Elk River, MN…On the cutting edge <br />Elk River EDA <br />Business Microloan Fund <br />Staff Recommendation <br />Fifth Microloan for businesses cited in Governors Emergency <br />Executive Order 20-04 and 20-08 <br />Maximum $5,000 loan <br />No Application fee <br />Zero Interest <br />Defer payments for 6 months <br />Amortized over 50 months <br />UCC Lien, Personal and Corporate Guarantees