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FEDA approves five loans
23 Nov 2021
News
FAIRMONT — The Fairmont Economic Development Authority approved five loans Wednesday evening, four of which were directly impacted by COVID and one MicroLoan request.
Live Fit Sport and Wellness Center applied for a $25,000, 0 percent interest loan to assist with the offset of revenue and help pay the expenses as a result of COVID. The business shut down operations down in 2020 due to the governor’s executive orders. Live Fit is in their first year of operation. Collateral will include a blanket UCC filing specifically listing two treadmills and personal guarantees from owners Alex Schliesmann and Jennifer Moeller.
The Fairmont Economic Development Authority (FEDA) coordinates and administers economic development initiatives for the City of Fairmont, MN. It serves as a comprehensive and premier resource for businesses seeking to startup, grow and locate in the area. FEDA’s priorities include business retention and expansion, financing, workforce development, recruitment, site development, housing and business startup. FEDA prides itself as a growing resource for Fairmont, MN news.
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