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McDevco says county’s $1M revolving loan fund has been deployed; $962,000 dispersed last year
Summary
McDevco executive director Kim Weber told the committee Marathon County’s $1 million contribution to the revolving loan fund has been fully released and that $962,000 was dispersed last year; McDevco described loan sizes, incubator occupancy and partnerships.
Kim Weber, executive director of McDevco, briefed the committee on McDevco’s financing and program activity in Marathon County and reported the county’s revolving loan contribution has been fully released into the community. “It was a $1,000,000 dollar contribution from Marathon County...I'm happy to report that we've released all of those million dollars into the county,” Weber said, and later noted, “As you can see, we dispersed $962,000 last year.”
Weber summarized typical loan sizes (commonly $25,000, with gap loans up to $250,000), highlighted partner financing that helped a $250,000 borrower in Edgar, and described educational partnerships and incubator utilization rates. McDevco also explained the Peltz revolving loan fund and a program to help low- and moderate-income rural families replace failing septic systems; Weber said the organization will continue convening municipal partners and offering business education and incubation services across Marathon County.
