Revolving Loan Fund/Micro Loan Committee

Revolving Loan Fund


The  Revolving Loan Fund (RLF) is a flexible source of loan funds for commercial and industrial projects. The purpose of the RLF is to promote economic growth in west central Wisconsin through recruitment, expansion, and retention of business and industry. The RLF is not meant to be the primary source of financing for projects and will work in partnership with other lending institutions. The minimum loan amount is $25,000 and the rate is fixed at 4%.
 

Eligibility


  • Be located in, or propose to locate in, West Central Wisconsin (Counties of Barron, Chippewa, Clark, Dunn, Eau Claire, Pierce, Polk, and St. Croix).* 
  • Create and/or retain jobs. 
  • Demonstrate ability to repay the loan. 
  • Eligible activities include: acquisition of equipment, machinery, furniture and fixtures; new working capital; site improvements; leasehold improvements; natural disaster recovery; land and building acquisition; new building construction or building renovation.

Micro Loan Fund 


The  Micro Loan Fund Program  provides small loans to start-up, newly established, or growing small businesses. The key objective is to assist business owners, who have traditionally had difficulty accessing debt financing, by affording them another alternative to obtain credit. The rate is fixed at 4% and the loan amount can be between $5,000 and $25,000.

Eligibility 


  • Be located in, or propose to locate in, West Central Wisconsin (Counties of Barron, Chippewa, Clark, Dunn, Eau Claire, Pierce, Polk, and St. Croix).* 
  • Have annual sales less than $1 million AND have 25 or fewer employees. 
  • Demonstrate ability to repay the loan. 
  • Eligible activities include: new working capital; inventory purchases and supplies; acquisition of equipment, machinery, furniture and fixtures; leasehold improvements; building renovation and rehabilitation; real estate acquisition; natural disaster recovery. 
Member Revolving Loan Fund/Micro Loan Fund
Kay Erickson Mayor
Darcy Long City Administrator
Julie Riemenschneider City Council Member
Jim Richison Bremer Bank
Shari Overby WESTconsin Credit Union
Paul Shafer Community Representative
Roger Van Someren Carlson Highland
Carrie Synder Royal Credit Union

Meetings


This committee meets as needed. Contact City Hall for more information.