Committee votes to use $10,000 from loan fund as match for regional WEDC grant
The committee approved committing $10,000 from the Vernon County Economic Development Loan Fund as part of a local match for an MRRPC $250,000 WEDC Small Business Development Grant; the loan fund balance was $262,394.62 as of April 30, 2025.
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Jon Bingol of the Mississippi River Regional Planning Commission briefed the committee on the Economic Development Loan Program, reporting a fund balance of $262,394.62 as of April 30, 2025 and noting 0 loans paid off and 0 new applicants since the prior meeting. He said the fund is earning 3.4–3.8% interest and staff were awaiting a response from a local applicant, Ewetopia, about loan interest.
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