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<br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br />PROPOSAL TO EXPAND SERVICE TERRITORY <br />OF <br />COON RAPIDS DEVELOPMENT COMPANY <br /> <br />Introduction <br /> <br />The following is a proposal to expand the service territory <br />of Coon Rapids Development Company allowing for the use of its <br />unique services by all businesses located or contemplating <br />locating in Anoka County. <br /> <br />What Is Coon Rapids Development Company <br /> <br />Coon Rapids Development Company CCRDC) is a private, non- <br />profit SBA 503 Certified Development Corporation formed to assist <br />existing businesses to expand and/or relocate in Coon Rapids by <br />providing a positive business climate focusing specifically on <br />filling the gap between private and public financial resources. <br />CRDC provides innovative one-stop financing utilizing federal, <br />state, city, and private financing sources which, in turn, <br />develop many new jobs in its area of service. CRDC offers a <br />variety of financing packages, some requiring an investment of as <br />little as 10 percent of the total project cost on the part of the <br />benefiting small business. Through the Small Business <br />Administration 503 Loan Program, CRDC can provide up to 40 per- <br />cent of project funds with an amortization of up to 25 years at a <br />fixed rate. In addition, area bankers cooperate with CRDC by <br />providing an additional 50 percent of project funds. CRDC <br />