WRIGHT COUNTY Revolving Loan Fund. LOAN HISTORY $100,000 – County Supervisors$100,000 – County...
Transcript of WRIGHT COUNTY Revolving Loan Fund. LOAN HISTORY $100,000 – County Supervisors$100,000 – County...
WRIGHT COUNTYWRIGHT COUNTY
Revolving Revolving Loan FundLoan Fund
LOAN HISTORYLOAN HISTORY
• $100,000 – County Supervisors$100,000 – County Supervisors
• $400,000 – USDA-RD$400,000 – USDA-RD
• No Administrative FeeNo Administrative Fee
PRESENT PRESENT BALANCEBALANCE
• Total Funds Loaned: Total Funds Loaned: $1,039,600$1,039,600
• Number of Loans: Number of Loans: 2727
• Number Failed Loans: Number Failed Loans: 22
• Amount failed: Amount failed: $99,050$99,050 (9.5%) (9.5%)
• $ Range of Loans: $ Range of Loans: $1,800 to $100,000$1,800 to $100,000
PRESENT PRESENT BALANCEBALANCE
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50,000.00
100,000.00
150,000.00
200,000.00
250,000.00
300,000.00
Loan Amount
Belmond Clarion EagleGrove
Goldfield
Community
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50,000.00
100,000.00
150,000.00
200,000.00
250,000.00
300,000.00
Loan Amount
Belmond Clarion EagleGrove
Goldfield
Community
REPORT CARDREPORT CARD• Estimated Jobs Created: 332Estimated Jobs Created: 332
• Jobs Saved: 628Jobs Saved: 628
• Private Funding: $80,374,556Private Funding: $80,374,556
• Equity Injection: $11,374,725Equity Injection: $11,374,725
PRESENT LOAN PRESENT LOAN PORTFOLIOPORTFOLIO
• Anticipated Expansion, Belmond & ClarionAnticipated Expansion, Belmond & Clarion
• New DevelopmentNew Development– Ethanol FacilityEthanol Facility– Feed MillFeed Mill
Success StorySuccess Story• CodeX CorporationCodeX Corporation
– Stipulations of loan Stipulations of loan • $50,000$50,000• Flexible termsFlexible terms• 6 year repayment6 year repayment• 11stst 3 months no payments 3 months no payments• 22ndnd 3 months interest only 3 months interest only• Followed by principle & interest paymentsFollowed by principle & interest payments
Success StorySuccess StoryMaking the Sale Making the Sale
• Lower cost of doing businessLower cost of doing business• Great cooperation and appreciation by local Great cooperation and appreciation by local
businessesbusinesses• Expectations were reasonableExpectations were reasonable
– Not many employeesNot many employees– Possible exit strategy up frontPossible exit strategy up front
• Local investment pool, equity driveLocal investment pool, equity drive• Local networking, contactsLocal networking, contacts
Success StorySuccess StoryCompany Offerings Company Offerings
• Created support and productsCreated support and products– Criminal Justice SystemCriminal Justice System– Hospital AdministratorHospital Administrator– Customer SatisfactionCustomer Satisfaction
CODEX CODEX CORPORATIONCORPORATION