047 of 2023 - Economic Development Revolving Loan Fund (EDLF) - Leavity LLC15th August
47
Darin Mano, Council Chair
ATTEST AND COUNTERSIGN:
CITY RECORDER
Transmitted to Mayor on _________ _
Mayor's Action: ___ Approved. ___ Vetoed.
CITY RECORDER
(SEAL)
Bill No. of 2023. ---
Published: ------
MAYOR
Sara Montoya, Senior City Attorney
47 Aug 18, 2023
Aug 21, 2023
Erin Mendenhall (Aug 21, 2023 12:19 MDT)
4
Aug 22, 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
Ordinance 47 of 2023 Economic Development
Revolving Loan Fund – Leavity LLC
Final Audit Report 2023-08-21
Created:2023-08-17
By:Thais Stewart (thais.stewart@slcgov.com)
Status:Signed
Transaction ID:CBJCHBCAABAAsyuIHQhgkZTwbWQ0IwNQTuSeqPHVG1Ni
"Ordinance 47 of 2023 Economic Development Revolving Loan
Fund – Leavity LLC" History
Document created by Thais Stewart (thais.stewart@slcgov.com)
2023-08-17 - 11:44:41 PM GMT
Document emailed to Sara Montoya (sara.montoya@slcgov.com) for signature
2023-08-17 - 11:47:09 PM GMT
Email viewed by Sara Montoya (sara.montoya@slcgov.com)
2023-08-18 - 4:33:29 PM GMT
Document e-signed by Sara Montoya (sara.montoya@slcgov.com)
Signature Date: 2023-08-18 - 4:37:23 PM GMT - Time Source: server
Document emailed to Darin Mano (darin.mano@slcgov.com) for signature
2023-08-18 - 4:37:25 PM GMT
Email viewed by Darin Mano (darin.mano@slcgov.com)
2023-08-18 - 9:40:05 PM GMT
Document e-signed by Darin Mano (darin.mano@slcgov.com)
Signature Date: 2023-08-21 - 6:17:49 PM GMT - Time Source: server
Document emailed to Erin Mendenhall (erin.mendenhall@slcgov.com) for signature
2023-08-21 - 6:17:51 PM GMT
Email viewed by Erin Mendenhall (erin.mendenhall@slcgov.com)
2023-08-21 - 6:18:41 PM GMT
Document e-signed by Erin Mendenhall (erin.mendenhall@slcgov.com)
Signature Date: 2023-08-21 - 6:19:35 PM GMT - Time Source: server
Document emailed to Cindy Trishman (cindy.trishman@slcgov.com) for signature
2023-08-21 - 6:19:37 PM GMT
Document e-signed by Cindy Trishman (cindy.trishman@slcgov.com)
E-signature obtained using URL retrieved through the Adobe Acrobat Sign API
Signature Date: 2023-08-21 - 6:58:34 PM GMT - Time Source: server
Agreement completed.
2023-08-21 - 6:58:34 PM GMT