Areas Served: Dodge County
The Revolving Loan Fund program provides low-interest loans for proposed projects that will create new jobs, help businesses maintain or expand existing operations, and advance the county’s economic development goals and objectives in Dodge County, Wisconsin.
The Fund is intended to provide a financial incentive for business and industries to invest in their own growth by providing leverage.
The funds, therefore, are meant to serve an important, secondary role to the private financing available.
Funds may be used for: – Acquisition of land, buildings, and equipment – Building renovation, rehabilitation or equipment installation – Working capital for inventory and direct labor Refinancing, residential construction, specialized equipment not essential to the operation and routine maintenance generally cannot be financed.
Loan Requirements – There must be one new or retained job for each $20,000 of requested assistance.
So a $100,000 loan would require creation of five jobs, or proof that five jobs would be lost to the County without funding.
– At least 50% of the jobs created must be available to low to moderate income persons.
This requirement is normally satisfied if the business works with Job Service as it fills vacancies.
– The applicant must demonstrate that project funding is not available through conventional underwriting guidelines with a bank.
– There must be one dollar of private funds for each loan dollar requested.
– Loan amounts are subject to the availability of funds.
The minimum loan is $20,000. Interest rates vary with the prime rate and are set by the County on an individual basis.
Rates may range from three percent below prime to two percent above it.
Contact InformationDodge County Land Resources and Parks
Address: 127 East Oak Street
City: Juneau
State: Wisconsin
Website:
http://www.co.dodge.wi.us/lio/
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