The City of Fort Atkinson has announced that it is accepting applications from high-growth startups and emerging growth companies for the Capital Catalyst Revolving Loan Fund (CCRLF).
Money within the CCRLF will be used to help stimulate the city’s economy, information released by the city states.
According to the release, on Jan. 28, the Fort Atkinson Economic Development Commission approved a partnership with the Jefferson County Economic Development Consortium (JCEDC) to manage the revolving loan fund, which includes $600,000 in available funds.
Loans of up to $100,000 or 30% of total project costs are available through this fund, made possible by a grant from the Wisconsin Economic Development Corporation (WEDC). The team at the Jefferson County Economic Development Consortium will work with applicants through the application and underwriting process. A Loan Review Committee will review applications and make recommendations to the Economic Development Commission for approval, the release continued.
The goal of the Capital Catalyst Revolving Loan Fund program is to encourage the startup of new businesses and the expansion of existing businesses. The focus will be on assisting companies in industry sectors including, but not limited to, advanced manufacturing, agriculture or food processing, information systems or software, medical devices, biosciences and energy, the release continued, noting that those applying for program funds should be involved in activities that address one or more of the following:
• Encourage new private investment in the City of Fort Atkinson.
• Support a diverse mix of employment opportunities and minimize seasonal or cyclical employment fluctuations.
• Encourage the development and use of modern technologies that increase productivity and efficiency.
• Support the elimination of blight and encourage urban redevelopment.
To review the application and loan guidelines, visit the city’s website: www.fortatkinsonwi.net. Those interested in applying for the Capital Catalyst Revolving Loan Fund should contact Victoria Pratt, Executive Director of JCEDC by email: victoriap@jeffersoncountywi.gov or by phone: 920-674-8710.
Fort Atkinson Municipal Building, FAO/file photo.
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