Small Business in Waukesha County having growth potentials could get tax financed interest loans extending up to $50,000. This loan grant is made under an economic development initiative ‘Small Business Leverage Loan Program.’ The program is going to start with $300,000 that is enough to serve at-least half-dozen businesses.
Dan Vrakas, county executive, says that the program would serve as an economic development tool for the Waukesha County. The program is suggested by Norman Cummings, Director of Administration, after a similar effort in Minnesota.
After an appearance before County Board’s finance committee on Wednesday, Cummings recommended approval of the program. This loan program is going to help in the effort of job growth among small businesses. These dollars are earmarked for economic development and it ensures keeping everyone’s taxes low.
Existing Waukesha County companies will be receiving the loans at-least for a year. The companies should be designated as ‘high-impact’ job creators and they specifically belong to categories like manufacturing, suppliers, technology, distribution and larger Waukesha County businesses. Priority will be given to companies that add on products, services and capacity.
Barbara Eckblad, the lending director for Wisconsin Women’s Business Initiative Corp., says, “It’s the right product at the right time in the right market.” The loan will be administered in Waukesha County at a cost of $1,000 by contacting the ‘Women’s Business Initiative’.
This article was submitted by Raj Tulshan, Director of Business Development of Biz2Credit. Biz2Credit is a small business marketplace that connects entrepreneurs with financing options and advice to grow their business. Send all questions to email@example.com