Winnebago County Rural Revolving Loan Fund

The Winnebago County Rural Revolving Loan Fund is a flexible gap financing tool to support small and emerging businesses engaged in job creation and economic development in the rural Winnebago area.

Award Amount: Program awards for any single business enterprise range from a minimum of $10,000 to a maximum of $40,000.

Eligibility

• Any single business enterprise designated rural by the USDA
• Applicants shall not be disqualified based on age, race, religion, color, handicap, sex, physical condition, development disability, sexual orientation, or national origin
• Check your business address at USDA website to verify rural eligibility

Eligible Activities

• Acquisition of land, buildings, and/or fixed equipment
• Inventory essential to the business operations
• Site preparation, construction and/or reconstruction of buildings, rehabilitation of buildings including leasehold improvements, and/or installation of fixed equipment
• Clearance, demolition, or removal of structures
• Working capital
• Research and development
• Intellectual property
• Employee training
• Marketing of new products or emergence into a new niche
• Employee recruitment and/or transfer
• Interest rate buy-down with private sector lender

Financing Guidelines

• Private Funds Match: Up to one dollar of private sector investment for each dollar and a half of RWRLF investment
• Loan Amount: Minimum $10,000 to maximum $40,000 per business enterprise
• Loan Terms: Determined on a case-by-case basis, designed around generating maximum success and outcomes
• Interest Rates: Determined by the RLF Committee, balancing risk and return for Winnebago County
• Repayment: Deferral of principle payments may be provided, determined on a case-by-case basis
• Collateral: Requirements determined on an individual basis by the RLF Committee

How to Apply

1. Verify your business address is in a USDA-designated rural area
2. Visit the application portal (link provided on funding page)
3. Complete the application with your business information
4. Submit required materials
5. Application will be reviewed by the RLF Committee on a case-by-case basis

Note: Specific application materials and requirements are referenced but detailed steps are not provided in the available text. Contact GOEDC at (920) 230-3321 or visit the application link for complete instructions.