Committee backs resolution to create $250,000 revolving loan fund and will apply for WEDC grant
The committee moved to send a resolution to the full county board to establish a revolving loan fund (proposed $250,000) and to apply to the Wisconsin Economic Development Corporation for up to $215,000, with a county cash match of $35,000; proposed loan terms include a $10,000 cap, 3% fixed interest and 36-month repayment.
The full story
Committee members voted to forward a resolution to the full county board seeking authority to establish a $250,000 revolving loan fund to support small businesses across Vernon County and to pursue WEDC grant funding to seed the fund. Amy (speaker 2) explained the application would request $215,000 from WEDC while the county would provide a cash match of $35,000 from its grant-match account; she said the WEDC application is due October 2 and awards are typically announced in March.
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