Elk River EDA approves dance studio loan
P.S … Dance Studio has been granted a loan of up to $30,000 from the Elk River Economic Development Authority (EDA) to make energy-saving improvements to a new studio.
This is the first loan of its kind approved by the EDA since the Energy Efficiency Improvements Micro Loan Program was rolled out in April 2011.
Pamela Sitts, CEO of P.S … Dance Studio, plans to use the loan to make improvements in the studio’s new location at 251 Eighth St., Elk River. She plans to install high-efficiency lighting and improve the heating system.
The seven-year loan will have an interest rate of 3 percent.