city-of-clarkfield-eda-regular-meeting-agenda-july-28-2025_288.pdf
Bailey's Custom Cap Loan Shows Delinquent Payments
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Description
The Clarkfield EDA Revolving Loan Fund continues to carry the Bailey's Custom Cap loan, adjusted to $18,872.30 in 2018 with a remaining balance of $13,372.00 and a $100 monthly payment. The loan, originally issued in 2006 and extended in 2018, is currently noted as having no recent payments.
Contract Details
Contract Amount
$18,872.30 (adjusted principal as of 2018); $13,372.00 loan balance
Vendor
BAILEY'S CUSTOM CAP
Agency
City of Clarkfield, MN
Contract Type
FINANCIAL_SERVICES
Document Date
July 28, 2025
Contract Term
Loan originally dated 1/4/2006; extended 2/26/2018
Renewal Info
Loan was extended on 2/26/2018 from an original 1/4/2006 agreement; current status shows no payments despite the $100 monthly obligation.
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