Areas Served: City of Geneva Lake
In 2006, the Geneva Lake Development Corporation (GLAD) established the Economic Development Master Fund for businesses located within the City of Lake Geneva, Wisconsin and its eligible area.
These funds are intended to be used to improve properties and enhance the tax base within this area.
Businesses and property owners are eligible to receive low interest loans to finance business expansion or start-up projects.
Loan funds that are repaid to the GLAD will be used to assist other businesses in the eligible area.
Purpose of the Economic Development Master Fund The Master Fund has been established to enhance the business climate within the eligible area through the retention and expansion of existing businesses and the development of new, small businesses.
Small businesses often lack the necessary capital to develop or expand their operations and this lack of capital has a significant impact on the local economy.
The Master Fund program includes funding mechanisms and interest rates that are designed to encourage business development, while providing for the recapitalization and growth of the Master Fund program.
Eligible Applicants Eligible applicants for the Master Fund are business establishments or property owners located within the eligible area.
The exception being building design grants and construction facade loans.
This financing is available only within the City of Lake Geneva.
Applicants must demonstrate that they are unable to access the financing necessary for the business or real estate project through conventional sources.
No GLAD Board of Directors member shall be eligible to participate in the program.
Contact InformationGeneva Lake Development Corporation
Address: 1000 E Centralia St
City: Elkhorn
State: Wisconsin
Website:
http://www.walworthbusiness.com/index.php?option=com_content&view=article&id=45:city-of-whitewater-economic-development-revolving-loan-fund&catid=23:business-resources
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