REVOLVING LOAN FUND (RLF)
SUMMARY
The Revolving Loan Fund (RLF) is a flexible source of loan funds for commercial and industrial projects. The RLF provides gap financing to projects that provide an economic benefit to the community or region.
FINANCE TERMS & CONDITIONS
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Loan sizes of $25,000 and up.
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4% fixed interest rate.
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Deferrals of principal (interest-only) payments may be allowed.
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Repayment terms can be up to five years for working capital, seven to ten years for machinery and equipment, and ten years for real estate.
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Collateral is required.
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Unlimited personal guarantees are required for any owner with a 20% or greater ownership interest in the business.
ELIGIBILITY
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Be located in, or propose to locate in, West Central Wisconsin (counties of: Barron, Chippewa, Clark, Dunn, Eau Claire, Polk, and St. Croix).*
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Provide an economic benefit which could include a business expansion; diversification of the economy; addition of new technology; creation or retention of quality jobs; and/or private capital investment in the region.
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Matching funds are required.
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Demonstrate ability to repay the loan.
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Eligible activities include: acquisition of equipment, machinery furniture and fixtures; new working capital; site improvements; land and building acquisition; new building construction or building renovation.
*Some communities within these counties may not be eligible.