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■ Program Funds are on a first-come, first-serve basis for qualifying businesses. Funding will be provided <br /> until the funds are exhausted or the city-declared state of emergency declaration is lifted,whichever <br /> comes first <br /> ■ As a condition for receiving funding, all recipients are required to submit a brief report to the EDA <br /> within two months after receiving funds, specifying how the funds were used and providing evidence in <br /> the form of paid invoices, statements or similar documentation <br /> Financial Impact <br /> N/A <br /> Attachments <br /> ■ City of Elk River Economic Development Business Microloan Program (2017) <br />