Areas Served: Brown County
The Brown County Revolving Loan Fund (RLF) program is intended to encourage the creation and retention of permanent jobs, which provide a wage, appropriate to the skills and experience of the local labor force and that is competitive.
MINIMUM REQUIREMENTS To be eligible for funding, a proposed project must meet all of the following minimum requirements: (1) Private Funds Leveraged.
The applicant must leverage a minimum of one dollar ($1.00) of private funds for every one dollar ($1.00) of loan funds requested.
Higher leverage may be required at the discretion of the Loan Review Committee.
(2) Cost Per Job Created.
At least one (1) full-time permanent position or full-time equivalent must be created for every $20,000 of program funds requested.
The Committee may require lower job cost where warranted, (i.e. taking into consideration type of jobs, hourly wage, etc.
) (3) Financial Feasibility and Business Viability.
The applicant must demonstrate that the proposed project is viable and the business will have the economic ability to repay the funds.
(4) Low and Moderate Income (LMI) Benefits.
The project shall provide increased permanent employment or will retain existing jobs, which would have been lost locally.
Of the jobs created or retained by the project, at least 51 percent of these jobs must be made available to low to moderate income persons.
TERMS AND CONDITIONS Loan terms and conditions shall be structured on need and ability to repay.
Minimum standards shall include the following: (1) Loan Amount.
Loan amounts are subject to the availability of program funds.
A minimum loan of $10,000.00 and a maximum loan of $250,000.00 for each borrower.
(2) Interest Rate.
The interest rate shall be established by the Loan Review Committee.
Contact InformationBrown County Planning Commission
Address: 305 E. Walnut St.
City: Green Bay
State: Wisconsin
Website:
http://www.titletown.org/media/90714/rlf_manual_12_11_03.pdf
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