Financing

Services: Incentive and Financial Resource Programs

Contact: Sheldon Johnson, Executive Director

Address: 1400 S River St , Spooner, WI 54801

Phone: 715.635.2197

Email: sjohnson@nwrpc.com

Description:

The Northwest Wisconsin Rural Economic Development Fund Revolving Loan Fund (NWREDF-RLF) provides low-cost financing to businesses seeking to either start or expand their operations in Northwest Wisconsin.

Loan Amounts
Up to $200,000.

Eligible Applicants
Businesses located in one of the following Northwest counties of Wisconsin:

Bayfield
Burnett
Douglas
Iron
Price
Rusk
Sawyer
The City of Superior is excluded.

Other Funding Required
The applicant must demonstrate that the proposed project is viable and that the business will have the economic ability to repay the loan.

Allowable Use of Proceeds
Acquisition of land and buildings; completion of site preparation; construction of any building; machinery and equipment; start-up costs, operating costs and working capital.

Term of Loan
In most circumstances, based on the life of the asset financed.

Interest Rate
Except in rare circumstances, all loans will be below market per annum interest rate.

The loan application will be scheduled for a Loan Review Board with a decision within thirty days or less.

Northwest Wisconsin Rural Economic Development Fund Revolving Loan Fund serves the Northland, Duluth MN Superior WI MSA, and Douglas county areas.