HomeMy WebLinkAbout10-31-17, Prospera Revolving Loan Fund Committee, Agenda Bozeman Revolving Loan Fund Committee Agenda
October 31, 2017 at 10:00 AM
First Security Bank, 208 East Main Street, Bozeman, MT
A. Call meeting to order and introduction of those present
B. Public Comment – Please state your name and address in an audible tone of voice for the record. This is the time for individuals to comment on matters falling within the purview of the Committee. There will also be an opportunity in conjunction with each action item for comments pertaining to that item. Please limit your comments to three minutes. C. Approval of Previous Meeting Minutes
D. Action Items
1. Discuss/Approve/Deny – Loan Request – Inspired Madness, Inc.
The applicant is requesting the following: Loan Amount: $124,132 (increase existing loan by $45,400). Interest Rate: 6.19% Term: 7 years with equal amortized monthly payments of principal and interest.
Purpose: Partner with First Security Bank to provide GAP financing.
Collateral: All Business Assets of Inspired Madness, Inc. and lien on the
personal residence located at 1413 Cherry Drive, Bozeman, MT.
Guaranty: Personal guaranty of Serena Rundberg.
E. Other Items (Time permitting)
F. Adjournment – 11:30 AM
Please Note: The Committee may close to the public all or portions of this meeting pursuant to Sect. 2-3-203(3), MCA, if discussion relates to a matter of individual privacy and the Committee determines the demands of the individual’s privacy clearly exceed the merits of public disclosure. For more information please contact Michael Drewiske, Loan Fund Manager with Prospera Business Network at 406-587-3113. Committee meetings are open to all members of the public. If you have a disability and require assistance, please contact our ADA coordinator, Mike Gray at 406-582-3232 (TDD 406-582-2301).