Financing
Services: Incentive and Financial Resource Programs
Contact: Jim Caesar, Executive Director- The Development Association
Address: 205 Belknap St , Superior, WI 54880
Phone: 715.392.4749
Email: jim@wegrowbiz.org
Description:To promote economic growth in Douglas County through recruitment, expansion and retention of business and industry.
Loan Amount
Up to $50,000.
Eligible Applicants
Funds available to qualifying businesses within Douglas County, WI.
Other Funding Required
At least one job per $5,000 of RLF financing, or one job per $8,000 of RLF financing for each commitment to hire JTPA-eligible persons.
Other Special Requirements
The RLF board will not consider jobs created prior to its final approval for job creation; investment prior to its approval as equity contribution; or financing disbursed prior to their approval as participation financing.
Allowable Use of Proceeds
To purchase land, building, equipment; and working capital.
Term of Loan
Terms are variable within an average 5-7 year payback for equipment, working capital, and 7-10 years for buildings.
Interest Rate
2% below New York prime.
Turnaround time generally 30-60 days.
Douglas County Revolving Loan Fund serves the Northland, Duluth MN Superior WI MSA, and Douglas county areas.
