Areas Served: La Crosse Counties
The La Crosse County Revolving Loan Fund (RLF) was formed to provide affordable financing to new business start-ups and business expansions that create jobs and contribute to economic growth in La Crosse County, Wisconsin.
¢ Loan Sizes – in the $10,000 – $120,000 range are preferred.
The maximum loan to a single borrower is $200,000. Micro loans in the $400 – $9,999 range are also eligible.
The RLF Loan Board may adjust this if they feel the economic benefits of a proposed loan merit such an adjustment.
¢ Job Creation – A minimum of one job created or retained for every $10,000 -$15,000 of RLF financing.
The RLF Loan Board may adjust this if they feel the economic benefits of a proposed loan merit such an adjustment.
¢ Loan Ratio – $2 of private or other financing to every $1 of RLF financing is required.
¢ Participating Lender – money from this loan fund is always in conjunction with a sponsoring senior lender or other investment capital.
To apply for a RLF loan a business must also secure private financing.
The sponsoring senior lender will be invited to appear at the County Loan Board meeting to answer questions concerning the loan and about the need of an inter-creditor agreement.
¢ Equity – each project will require a minimum of 10% equity.
¢ Uses of Funds – Real estate, working capital, and equipment all are eligible financing uses.
Adequate collateral and security requirements will be sought on all RLF loans.
The RLF may take a subordinated position behind a senior lender.
Contact InformationMississippi River Regional Planning Commission
Address: 1707 Main Street Suite 435
City: La Crosse
State: Wisconsin
Website:
http://www.mrrpc.com/Revolving_Loan_Funds.html
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