Proposed Ordinance - 7/18/2023July 13, 2023
LOAN TERM SHEET
Applicant: Leavity LLC
Address: 47 S Orange St., #B1, Salt Lake City, Utah 84116
Proposed Loan Terms
Loan Amount: $100,000
Loan Term: 7 Years
Interest Rate Calculation Prime Interest Rate: 7.50% (at the time of application on 1/6/2023)
EDLF Charge: 4%
Less Discount: 1%
Priority Area - West of I-15
Final Interest Rate: 10.50%
Use of Funds: Equipment, Working Capital
Business Type: Food and Beverage
Collateral and Guarantees: Equipment
Personal Guarantees: Todd Bradley - Owner
Conditions for Closing: Obtain all City approvals, execute all loan documents as deemed necessary by
City legal counsel and DED staff, such other terms as recommended by City legal counsel and DED staff