• Nov 06, 21
• spencergregory
• Revolving Loan Fund Directory
• 0 comment

The Community Development Loan Fund provides gap financing to area Wisconsin businesses. A gap is the difference between what a private lender is willing to lend, and what a borrower needs. Typically, RRLF money is long-term, has low down payments, and carries lower interest rates than traditional private financing. RRLF’s do not compete with banks for projects, but rather complement them and other programs in a total financial structure. TYPES OF LOANS AVAILABLE There are three basic loan types: 1. Façade Improvement Loan

• • Building Façade improvements
  • Tuck pointing and brick restoration
  • Awning repair and acquisition
  • Signage
  • Facade painting

2. Micro Loans to early stage businesses

• • Acquisition of fixed equipment
  • Working capital
  • Marketing and Sales Materials

3. Job Retention and Creation Loans

• • Acquisition of land, buildings, and fixed equipment.
  • Site Preparation, construction or remodeling of buildings, or the installation of fixed equipment.
  • Clearance, Demolition or removal of structures or the rehabilitation of buildings and other such improvements

€¢ Working Capital TERMS OF A LOAN Loan Sizes up to $7,500 for Façade Improvement Loans; up to $150,000 for Job Retention and Creation; and up to $5,000 for Micro Loans. Interest Rates are set by the Loan Review Committee, usually below market rates. Length of Loan Micro Loans: maximun 5-year term; Façade Improvement Loans: maximum 5-year term; Machinery loans: maximum 7-year term; and Real Estate Loans: maximum 12-year term. Any for-profit business in the North Central Wisconsin region may apply. The region includes the following counties: Adams, Forest, Juneau, Langlade, Lincoln, Marathon, Oneida, Portage, Vilas, and Wood. Contact Information North Central Wisconsin Regional Planning Commission Address: 210 McClellan St, Suite 210 City: Wausau State: Wisconsin Website: https://www.ncwrpc.org