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Approved Loan Direct - <br />Business Type: Printing Specialist Company <br />Location: Ramsey Business <br />Referred by: Bank <br />OTB Financing: $72,500 <br />Other Financing: $1.391 M in Bank/Owner Equity <br />Employment: 1-2 FT jobs to be created because of this financing <br />Overview: The business products primarily include marketing materials, stationary, books and business forms. <br />The business is purchasing a building and new equipment, the bank anticipates that the"as completed" appraised <br />value will not be sufficient and that MCCD's loan will be needed to fill a collateral gap. <br />Approved Loan Direct - <br />Business Type: Trucking Company <br />Location: Columbia Heights Business <br />Referred by: Previous OTB Client <br />OTB Financing: $7500 <br />Other Financing: NA <br />Employment: NA <br />Overview: Business focuses on delivering merchandise in the metro area for larger trucking companies. Owner <br />invented and obtained a patent for a pivot ramp system that makes it easier on the driver to unload the trucks. <br />Owner is working to develop a driver training program for local non -profits and as a subcontractor for larger <br />companies. The loan from MCCD allowed owner to gain some working capital after having to restart the business <br />after an unexpected hiatus. <br />Approved Loan Direct - <br />Business Type: Hotel <br />Location: Shakopee Business/Blaine Resident <br />Referred by: Bank Partnership Financing <br />OTB Financing: $325,000 <br />Other Financing: $4,890,000 Bank/Owner Equity <br />Employment: NA <br />Overview: Owner and Bank requested $325,000 in Gap financing from MCCD for the purchase and renovation of <br />a Shakopee hotel. MCCD participation will enable borrowers to preserve cash to meet working capital needs as <br />Bank conventional financing is typically limited to 80% of the lesser of property value or project costs, and this <br />loan also supports small business growth. <br />