After a two-year hiatus, Sheboygan County has reopened the Revolving Loan Fund (RLF) available through Sheboygan County’s Industrial Development and Revolving Loan Agency. The fund will be administered by the Sheboygan County Economic Development Corporation, and is designed to create a low-cost alternative financing option for small businesses and start-ups. The fund had been closed in February of 2019 by the Wisconsin Department of Administration, and Sheboygan County revived the RLF this past May.
Sheboygan County Administrator Adam Payne said that the reintroduction of the Revolving Loan Fund marked a critical step in sustaining support for small businesses and startups in the county, while County Board Chairman Vern Koch said that “Right now, it’s critical that we provide flexible financing terms to Sheboygan County’s small businesses.”
Funds can be used for land acquisition and site preparation including clearance and demolition of existing structures as well as for rehabilitation, and can also serve as bridge financing where other sources of capital are expected at a later date, among other things.
More information is available by visiting the RLF zone website here.
Comments