clarkfield-economic-development-authority-agenda-august-25-2025_e5b.pdf
Bailey's Custom Cap Loan Shows No Payments
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Description
The Clarkfield EDA holds a long-term revolving loan to Bailey's Custom Cap originally issued in 2006 and adjusted in 2018 to $18,872.30, with about $13,400 still outstanding. Despite a scheduled $100 monthly payment, the latest report notes no current payments and a prior extension dated February 26, 2018.
Contract Details
Contract Amount
$18,872.30 original loan; $13,372.00–$13,572.00 balance
Vendor
BAILEY'S CUSTOM CAP
Agency
HRA OF CLARKFIELD, MINNESOTA, MN
Contract Type
FINANCIAL_SERVICES
Document Date
August 25, 2025
Contract Term
Loan originated 1/4/2006; extended 2/26/2018
Renewal Info
Loan extended on 2/26/2018 following its original 1/4/2006 issuance; no further extension or renewal terms described.
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