Areas Served: City of Janseville
This program is designed to provide loan funding to help companies have increased access to capital for expansion purposes in Janseville, Wisconsin.
The purpose is to assist in the financing of job-creating expansion projects which cannot be adequately financed using only private sector and equity funding.
Without the TIF loan filling the remaining financing gap, the project would not go forward.
Gap loans are to be made to for-profit businesses located in specified TIF areas within the City of Janesville.
Loans may be made for business start-up, expansion or for business recruitment.
Businesses will need to commit to retention or expansion of jobs to receive funding.
Desirable businesses: 1. Manufacturing/Assembly 2. Warehouse Distribution 3. Professional services including computers, phones and other technology-related product or service-oriented companies Eligible uses of funds: 1. Purchase, expansion or remodeling of commercial real estate 2. Purchase of machinery and equipment 3. Working Capital Typical size of TIF gap loan – $20,000 to $50,000 based on the expansion project.
Contact InformationCity of Janseville, Wisconsin
Address: 18 N. Jackson
City: Janseville
State: Wisconsin
Website:
http://www.ci.janesville.wi.us/index.aspx?page=331
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