• Feb 05, 22
• spencergregory
• Revolving Loan Fund Directory
• 0 comment

Through its participation in the United States Department of Agriculture (USDA) Revolving Loan Fund program, the Columbia County Economic Development Corporation (CCEDC) has capitalized a Revolving Loan Fund (RLF) for Columbia County Wisconsin businesses.

This fund is designated to make direct business loans on a companion basis with other financing sources (public sector loans, governmental loans/grants, equity, etc.

).

ELIGIBLE ACTIVITIES – Acquisition of land, buildings, equipment and fixed assets.

– Site preparation and the construction or reconstruction of buildings or the installation of fixed equipment.

– Clearance, demolition, or the removal of structures or the rehabilitation of buildings and other such improvement.

– Payment of assessments for sewer, water, street, and other public utilities if the provision of the facilities will directly create or retain jobs.

INELIGIBLE ACTIVITIES – Refinancing or consolidating of existing debt.

– Reimbursement for expenditures prior to loan approval.

– Specialized equipment that is not essential to the business operation.

– Residential building construction or reconstruction.

– Routine maintenance.

MINIMUM REQUIREMENTS FOR RLF LOAN – Private Fund Leveraging – Must leverage at least one dollar of non-federal private funds for every dollar of RLF funds requested.

Owner must provide at least ten percent (10%) equity of the total project.

– Job Creation – At least one permanent full-time or equivalent position must be created or retained for every $20,000 of RLF funds requested.

– Demonstration of Need – The applicant must demonstrate financing from other sources for the proposed project, if not available, or cannot be obtained at terms that would allow them to be profitable and service debt and that assistance is required to remain competitive in the industry in which it belongs.

– Feasibility – The applicant must demonstrate that the proposed project is viable and the business will have the economic ability to repay the funds.

– Compliance – Applicants shall comply with all applicable local, state, and federal laws and codes.

– Project Completion – Projects shall be completed within 12 months from the date of the loan approval.

Applicants shall provide the community a project implementation schedule not exceeding 12 months for project completion and job creation.

– Eligibility Criteria – Any private business, which will employ 50 or fewer new employees and has less than $1 million in projected gross revenue, is eligible.





Contact Information
Columbia County Economic Development Corporation
Address: 1800 Kutzke Road, Suite B
City: Portage
State: Wisconsin

Website: http://www.co.columbia.wi.us/ColumbiaCounty/Default.aspx?tabid=1578

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