Capital Catalyst Revolving Loan Fund Available to Local Business

PRESS RELEASE

DATE: April 29, 2024

TO: Local Media Outlets

FROM: Rebecca Houseman, City Manager

RE: Capital Catalyst Revolving Loan Fund Available to Local Business

The City of Fort Atkinson is accepting applications from high-growth startups and emerging growth companies for the Capital Catalyst Revolving Loan Fund (CCRLF) to help stimulate the City’s economy. The program is in partnership with the Jefferson County Economic Development Consortium (JCEDC)/ThriveED to manage the revolving loan fund, which began with $600,000 in available funds, and currently has $203,000 in initial funds available.

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. Activities assisted with program funds should 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.

Over the last two years loans have been provided to Pete’s Tire, Papa Brunk’s, Lil’ Hawks Kidz Academy Too, Oak Tree Child and Family Services and The Langholf.

Loans of up to $100,000 or 30% of total project costs are available through this Fund, at interest rates of either 2% or 4%. The program was made possible by a Grant from the Wisconsin Economic Development Corporation and matched by the City. The team at JCEDC/ThriveED 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.

Anyone interested in more information is encouraged to review the application and loan guidelines on the City’s website at www.fortatkinsonwi.gov/revolvingloan. Those interested in applying for the Capital Catalyst Revolving Loan Fund should contact Deborah Reinbold, Executive Director of JCEDC/ThriveED at dreinbold@jeffersoncountywi.gov or (920) 674-8710

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