Areas Served: Dane County
Dane County, Wisconsin has two revolving loan funds that have separate, on-going application cycles.
The funds will be used to stimulate economic development and to provide loans for commercial revitalization.
These funds have been crucial in providing funding for small business development and expansion in the Dane County Urban Consortium.
Economic Development Revolving Loan Fund The Dane County Economic Development Revolving Loan Fund (ED-RLF) provides financing to businesses that create jobs for low and moderate-income persons.
The objectives of the ED-RLF are to:
¢ Expand or modernize existing or locally owned and managed enterprises.
¢ Encourage the creation or retention of employment opportunities for low and moderate-income County residents.
¢ Leverage new private investment in downtown business districts and traditional business districts.
¢ Assist businesses with high-value added products or services, especially in the agricultural sector.
¢ Assist Dairy Farmers with capital improvements resulting in an increase in milk production.
Minimum loan size is $25,000. Maximum is based on availability of funds.
Creation or retention of new jobs for Dane County residents of whom 51% must be LMI.
* Leverage a minimum of one dollar ($1.00) of private funds for every one-dollar ($1.00) of loan funds requested
Commercial Revitalization Loan Fund The Dane County Commercial Revitalization Loan Fund (CRLF) provides financing to businesses and real estate development projects that help revitalize downtown and commercial districts.
The objectives of the CRLF are to:
¢ Promote infill development and commercial redevelopment in downtown and traditional business districts
¢ Encourage the creation or retention of employment opportunities for low and moderate-income County residents.
¢ Leverage new private investment in downtown business districts and traditional business districts.
¢ Promote developments that are pedestrian friendly, that encourage a range of transportation options, and that enhance civic life.
¢ Implement Dane County and local community revitalization goals and objectives.
Minimum loan size is $25,000. Maximum is based on availability of funds.
Interest Rates are two percent above prime.
Lower rates can be negotiated based on need.
Contact InformationDane County Planning & Development
Address: 210 Martin Luther King, Jr. Blvd.
City: Madison
State: Wisconsin
Website:
http://www.countyofdane.com/plandev/planning/loan_fund.aspx
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