Laserfiche WebLink
Case It 1 <br /> <br />Consider Revolving Loan Fund for Catheter Technologies <br />By: Sean Sullivan, Economic Development/TIF Specialist <br /> <br />Background: <br /> <br />Catheter Technologies has approached the City for assistance with its start-up company. EDA members <br />received information in the business plan that outlines what this company plans to do. The business plans on <br />renting space in a building owned by Dennis Sharp in the City of Ramsey. Currently the balance in the City <br />revolving loan fund is $127,074. The amount requested by this business is $34,000 which is approximately <br />27% of the fund. The owner of Catheter Technologies will be in attendance to give a brief presentation and to <br />answer questions. The request that this business is seeking is consistent with the guidelines set forth for the <br />revolving loan fund. <br /> <br />Recommendation: <br /> <br />Staff recommends approval for the $34,000 loan from the Revolving Loan Fund contingent on review of the <br />loan application and financial information. <br /> <br />EDA Action: <br /> <br />Motion to recommend approval for the $34,000 loan from the Revolving Loan Fund contingent on review of the <br />loan application and financial information. <br /> <br />EDA: 03.08.06 <br /> <br /> <br />