The Greater Oshkosh Economic Development Corporation is pleased to announce the introduction of the Winnebago County Revolving Loan Fund (WCRLF), a collaborative initiative between Winnebago County and Greater Oshkosh EDC aimed at supporting local businesses.
This program activates $2.7 million in underutilized economic development funds, streamlining the application process and eliminating the requirement for municipalities to secure the loans. “We are excited to see these economic development funds in action, paving the way for important community projects and boosting growth and prosperity all around Winnebago County,” stated Greater Oshkosh EDC President and CEO Tricia Rathermel.
The Winnebago County Revolving Loan Fund is designed as a flexible gap financing tool, providing businesses in Winnebago County with the capital needed for strategic growth and expansion. This program will match up to a maximum of $1 for every $1 of traditional capital investment sources, within the funding range of $25,000 to $250,000.
The Winnebago County Revolving Loan Fund supports a wide range of activities for businesses and projects within Winnebago County limits, including the acquisition of land and buildings, inventory, site preparation, construction, rehabilitation, fixed equipment installation, clearance or demolition, working capital, research and development, intellectual property, employee training, marketing for new products or entry into a new niche, employee recruitment and transfer, and interest rate buy-down with private sector lenders. This flexibility reflects WCRLF’s commitment to addressing diverse business needs for sustainable growth in Winnebago County.
Greater Oshkosh EDC possesses a well-established infrastructure and a wealth of experience in effectively administering access capital programs through the Revolving Loan Fund Committee. This dedicated team manages multiple funds, including the Greater Oshkosh Revolving Loan Fund, Greater Oshkosh Capital Catalyst Fund, and Rural Winnebago Revolving Loan Fund, as well as bringing together partners and resources for the Winnebago County and the City of Oshkosh COVID-19 loan programs. Through these programs, Greater Oshkosh EDC has awarded over $2.6 million to emerging and expanding businesses to date and generated over $12.9 million in new net investment for the greater Oshkosh area.
As part of their expanded responsibilities, Greater Oshkosh EDC will administrate the Winnebago County Revolving Loan Fund. “Given my confidence in Greater Oshkosh’s management of the Winnebago County Revolving Loan Program, I’m optimistic about the opportunities it will create for businesses and residents across our county” stated Winnebago County Executive Jon Doemel.
Interested parties can learn more about Winnebago County Revolving Loan Fund and all our business assistance programs at www.greateroshkosh.com/funding-and-capital/
Greater Oshkosh EDC was founded in 2015 and exists to preserve the health of existing companies, foster a positive entrepreneurial environment, connect companies to workforce and talent development resources, enhance the business climate and promote the quality of life in the greater Oshkosh area. For more information, visit: www.greateroshkosh.com.
