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EDA PACKET 02.18.20
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EDA PACKET 02.18.20
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11/25/2020 4:11:59 PM
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11/25/2020 4:06:40 PM
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Commissions
Meeting Date
2/18/2020
Document Type
Agenda/Packets
Commission Name
EDA
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Financing Approved Through 4th Quarter 2019: <br />Approved Loan Direct - <br />Business Type: Photography and Event <br />Location: Cottage Grove <br />Referred by: Bank <br />OTB Financing: $20,000 <br />Total Investment: $26,000 <br />Overview: The client bought a small vintage camper that they plan to renovate into a photo booth <br />for parties and special events. By renting out the renovated camper by the hour or day, they will be <br />able to provide printed photos to customers as souvenirs from the event. Based in Cottage Grove, <br />the business will operate throughout the east metro area and western Wisconsin. Start-up financing <br />from MCCD will allow the couple to renovate the camper and help with other working capital <br />during startup. <br />Approved Loan Direct - <br />Business Type: Digital Media <br />Location: Forest Lake <br />Referred by: Forest Lake Chamber of Commerce <br />OTB Financing: $25,000 <br />Total Investment: $30,000 <br />Overview: The client has over 23 years of experience in advertising. When he sold his existing <br />business recently, he started looking for a new opportunity. The Forest Lake -based company will <br />provide digital signage service in restaurants, gyms, convenience stores, chambers of commerce, <br />and other businesses. The technology allows advertising or information to display on a rotating basis. <br />Approved Loan Direct - <br />Business Type: "Store as a Service" Retail Art Store <br />Location: Stillwater <br />Referred by: Stillwater Chamber <br />OTB Financing: $25,000 <br />Total Investment: $31,000 <br />Overview: The store's concept fits within the 'Store -as -a -Service' framework which is a new take on <br />bringing back the brick and mortar store. For a small fee that is comparable to most small business <br />marketing budgets; artisans and craftsman can focus on their craft while our client manages the retail <br />and ecommerce sales environment for them. Many small artisan/craftsman have no desire or means to <br />invest in retail space and an online ecommerce presence. Our client is taking them from the crafts fair, <br />festival, or flea market to an upscale retail kiosk 'experience' driven location. They will represent <br />businesses whose quality is represented in the passion the put into their craft; so they can focus on what <br />they do best. Their community connects the public with the "Tell Their Story". <br />Approved Loan Direct - <br />Business Type: Event Space <br />Location: Cottage Grove <br />Referred by: Bank <br />OTB Financing: $150,000 <br />Total Investment: $150,000 <br />
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