A Joint Initiative Between     Heart of Wisconsin     Business & Economic Alliance and     Community Foundation of     South Wood County

Home About Us B2B Club Breaking News Contact Donate Events / Programs Feedback Ideas Incubator Industry Clusters Links / Resources Progess Funds Progress Teams Public Art / Murals Publications		Breaking News January 15, 2007 - Revolving loan fund will assist business creation By Jill Cavanaugh, for the Daily Tribune The Community Progress Initiative, with the assistance of an Economic Development Initiative Special Project Grant through Rep. Dave Obey, has established the Heart of Wisconsin Revolving Loan Fund to assist entrepreneurs to start or expand their businesses. For the Heart of Wisconsin area, this means a boost to the tax and employment base. The Heart of Wisconsin Business Development Fund is designed to be gap financing to assist with filling equity gaps in loan packaging for business development purposes, with a priority on job creation. It is not to be used to compete with private financial institutions. This will be a revolving loan fund, which means when the original funds are paid back they are available for re-lending to other businesses creating new job opportunities for the area. "With assistance and encouragement from the Revolving Loan Fund Committee, businesses and industry will be able to upgrade, remodel or expand their present facilities in an effort to increase sales and develop a need for additional full-time employees or the retention of existing employees," said Connie Loden, Heart of Wisconsin executive director and Revolving Loan Fund administrator. Further goals of the Revolving Loan Fund are: • To encourage the creation and retention of permanent jobs, which provide a competitive wage appropriate to the skills and experience of the local labor force; • To encourage the leveraging of new private investment into the Heart of Wisconsin Area; • To perpetuate a positive and proactive business climate, which encourages the retention and expansion of existing businesses and helps to attract desirable new businesses; and • To maintain and promote a diverse mix of employment opportunities. Individuals interested in beginning the application process for the Heart of Wisconsin Business & Economic Alliance Revolving Loan Fund should call Connie Loden at 423-1830 for more information. Jill Cavanaugh provides member services and communications for the Heart of Wisconsin Business & Economic Alliance.
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