Areas Served: Langlade County
Langlade County Government desires to create and retain employment opportunities throughout all of Langlade County to promote a healthier and stronger economy.
A stronger local economy will increase the property tax base and better enable local government to accomplish its mission of adequate and improved services to the community in the most cost effective manner.
The Langlade County Government recognizes the need to financially assist local businesses through loans, grants, or public improvements to develop and expand their efforts and to improve their financial success.
To these purposes, the Langlade County Government has created a Community Development Fund (CDF).
More specifically these monies are used to finance business start-ups and expansion.
The business, in return for the use of public monies, provides private investment towards the assisted activity and, most importantly, creates and/or retains job opportunities in the community.
The Community Development Fund has been established to provide a means for Langalde County businesses to obtain financing, which in turn will provide jobs, increase incomes, and expand the local tax base.
Ideally, the CDF Program will fill the “gap” in the private sector finance market.
The CDF includes long-term, low equity involvement and reasonably priced financing as well as grants and improvements.
Eligible Activities: – Land, buildings, machinery and fixed equipment acquisition – Preparing site locations and installation of equipment – Construction, expansion, rehab or removal of existing buildings – Legal services incurred in the closing of a CDF loan Terms and Conditions – Loan Amount: Loans amounts are subject to availability of funds – Interest Rate: Interest rate will be recommended by the Loan Review Board – Terms: A maximum term of ten years on machinery, equipment and fixtures: Real estate loans terms shall be set by the Loan Review Board – Collateral: The county seeks to have the best possible collateral position that ensures loan fund security – Period of Payment: Terms may include longer amortization schedules with balloon payments.
No prepayment penalties.
Contact InformationLanglade County Community Development Corporation
Address: 837 Clermont Street
City: Antigo
State: Wisconsin
Website:
http://langladecounty.org/economic_development/edc_funding/?c=2b3b9a53310e
Leave a Reply