EDA reports microloan program progress; commissioner Dibba resigns
Staff reported 14 approved microloan applications totaling about $135,000 and nine additional applications under review that could bring lending near $210,000 of a $300,000 budget; the EDA also noted Commissioner Lamin Dibba’s resignation and upcoming Twin Cities North Chamber event.
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During business updates at the June 1 meeting, Community Development Coordinator Emilie Voight told the Economic Development Authority that 14 microloan applications in the first two batches have been approved, totaling roughly $135,000. Nine additional applications remain in process and, if approved, would add about $75,000, bringing total committed loans near $210,000 of a $300,000 program budget. Voight said common uses included mortgage or lease payments and utilities.
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