Revolving Loan Program



Paul Styduhar
Director of Administrative Services
Email: pstyduhar@village.grafton.wi.us
Administrative Services
Physical Address
860 Badger Circle
Grafton, WI 53024

Phone: (262) 375-5300
Fax: (262) 375-5312
Hours:
Monday - Friday
8 a.m. - 4:30 p.m.


Program Overview

The Village of Grafton Revolving Loan Fund (RLF) was established to create employment opportunities, encourage private investment, and provide a financing alternative for new business start-ups or expanding existing businesses in the Village of Grafton. The RLF program includes interest rates and loan maturities that are designed to encourage business, while providing for recapitalization and growth of the RLF.

Point of Contact for more Information

Loan Request or inquiries are made to:
Ozaukee Economic Development
Kathleen Cady Schilling
Executive Director
Call (262)238-7730
Email Kathleen at:kschilling@co.ozaukee.wi.us

Eligibility Requirements

Businesses must meet certain eligibility requirements to receive funds from the RLF Program including:
Businesses must create or retain one full-time equivalent for each $20,000 of loan funds requested; and
Businesses must make 51 percent of the jobs available to low and moderate income individuals.


Eligible Activities

Purchase, rehabilitation, renovation, or construction of a building
Site acquisition and preparation
Purchase of fixtures and equipment
Working capital (inventory only)

Financial Guidelines

The following guidelines are used to evaluate each loan application:
LEVERAGE: At least 50 percent of the total project costs must be funded through private resources.
LOAN AMOUNT: Loan amounts are subject to the availability of funds, with a minimum of $20,000.
LOAN TERMS: The maximum loan terms are seven years for working capital; ten years for equipment, machinery, and fixtures, and twelve years for real estate.
INTEREST RATES: The interest rate may range between two and three percent above the prime rate at the time the contract is signed.
DEFERRALS: Payment of interest and/or principal may be deferred during the implementation period of the assisted activity if merited in the loan application.
COLLATERAL: The Village of Grafton will seek to have the best possible collateral position possible to ensure that RLF loans are adequately secured.