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Tue October 29, 2013
Partnership Designed To Give Businesses Access To Money
A recent partnership should mean more money for business development in Forest county. That word from Jim Schuessler of Forest County Economic Development Partnership.
Schuessler says the state agency the Wisconsin Economic Development Corporation is asking groups to regionalize to create larger pools of funds. He says Forest county decided to join the Central Wisconsin Economic Development loan fund. Schuessler says that alignment allows for access to millions of dollars of funds for Forest county...
"...we were one of the very few counties that did not have its own Community Development Block Grants available for economic development to businesses, either for expansion or just retention..."
Schuessler says that hindered local access to loan money, but that has changed...
"...we can loan out through our own county loan committee up to $200,000 without distant approval was key. Lets face it, the folks in this county are most familiar with what it takes to be successful as a business in this county..."
Schuessler says there are already several applicants for the funds. Included is a Revolving Loan, Micro and Façade Loans, and a Capital Investment Fund. Loans up to $200,000 will be decided by a local committee. Larger loans will also require approval by a regional committee.
More information is available through Schuessler's office at Forest County Economic Development Partnership