Milwaukee County located in the U.S. State of Wisconsin is considering creation of a $100,000 loan fund . The program will be placed on table in next year’s budget. It is part of a broader program as introduced by board chairwoman Marina Dimitrijevic.
The program is going to make loans starting from $1,000 and extending up-to $5000 to small companies. The fund can be used to as capital to buy new equipments and feed in other technical assistance. With the fund, the small companies must be able to create a minimum of one job for people who are unemployed. This includes young adults and transitional workers.
Small businesses of Milwaukee County have started to play a crucial role in new job creation after the constitution of this fund has been announced. It is not limited to job creation. Milwaukee residents have started to create new companies. An environment for the success of the small business community is thus getting created.
The proposal for creating this new fund is filed by shifting $100,000 kept for a Youth program into the new loan fund. It is not just limited to this. Again, through a business incubator building located in Milwaukee County Research Park, Dimitrijevic also wants to spur growth of small businesses.
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 firstname.lastname@example.org