Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Economic Development Loans topic
No spam. Unsubscribe anytime.
McDevco reports revolving loan fund nearly drawn; $120,000 remains from county portion
Summary
McDevco told the committee that a revolving loan fund created in 2019 has been active and the county portion has about $120,000 remaining to draw, with additional funds committed from private donors.
Kim, representing McDevco, updated the committee on the Marathon County revolving loan fund created in 2019. The fund combined $1 million from the county and $1 million from private donor Judd S. Alexander; McDevco said the county portion has about $120,000 left to draw.
McDevco reported the remaining county funds indicate active lending and that additional committed funds are available to continue lending once the county portion is drawn. The committee received the report as informational; no committee action was taken.
Why it matters: Revolving loan funds provide gap financing to local businesses and influence local economic development activity. The county’s remaining balance indicates continued lending opportunities but approaching drawdown for the county portion.
