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REVOLVING LOAN FUND <br />LOAN SUMMARY <br />BORROWER; Whites Flooring Depot of Paris <br />CO-BORROWER; Kenneth White <br />ADDRESS; (new) 2030 North Main Street <br />CTTY; <br />Paris <br />STATE; <br />(was) 1131 NW Loop 286 <br />Texas <br />zip; 75460 <br />BUSINESS; Custom f loorin <br />TotalNeeded; $ 200, 000 purpose; Purchase building <br />Owner; 80,000 12mas. workina capital <br />Lender; 60,000 real estate <br />Gity ; 60,000 real estate <br />Lender; samar National Bank <br />Terms; 7.75% 5 yrs. amortized over 15 yrs. <br />Lien Position; f i r s t ' <br />Collateral; land, buildinq, contents, inventory <br />LoanOfficer; Dick Severson, Executive V.P. <br />CityTerms; 4.9% fixed, over 15 years <br />Lien position; s e c o n d <br />Cpl]ateral; same as above <br />Jobs Created; 4 r e t a i n e d, 2 new <br />Cost Per Job; 10,000 <br />Recommendstion: <br />Disapproval; ( ) <br />City Constiltant <br />Approval; ( ) <br />City Manager <br />Date <br />Date <br />Comments: <br />Buildinq appraised at $135,000, purchased for $120,000. <br />Business 1 year in operationo No tax return. Used 3 years <br />personal tax returns +P/L and BS. <br />EX++iso A <br />