Areas Served: City of Monroe
Through its participation in the Wisconsin Community Development Block Grant for Economic Development Program, the City of Monroe, Wisconsin has capitalized a Revolving Loan Fund (RLF).
The City’s RLF is designed to help businesses that locate, expand or retain jobs in the City of Monroe.
To be eligible, the proposed project must meet all of the following requirements: – Private Fund Leveraging.
A minimum of at least one dollar of private funds for every dollar of RLF funds requested.
Higher leverage may be required for some projects.
– Job Creation.
At least one permanent Fulltime Equivalent (FTE) position must be created or retained for every $20,000 of RLF funds requested.
– Employment.
At least 51% of the jobs created or retained must be made available to persons of low to moderate income (LMI) as defined by the Federal government.
– Location.
Activities financed under the RLF must be located within the City of Monroe.
Loan Amount.
Loan amounts are always subject to availability of funds.
There is no set minimum or maximum.
Interest Rate.
The rate will be established on an individual project basis.
Loan Term.
In no case will the term of the loan be longer than the term of private financing.
Contact InformationCity of Monroe, Wisconsin
Address: 1110 18 th Avenue
City: Monroe
State: Wisconsin
Website:
http://greencountyedc.com/docs/MonroeRLFBrochure.pdf
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