Funding Opportunities

Application RequirementsFunding Opportunities (RLF) | Dane County CDBG

•  Creation or retention of new jobs for Dane County residents of whom 51% must be low- and moderate-income.
• Leverage a minimum of one dollar ($1.00) of private funds for every one dollar ($1.00) of loan funds requested.
• Demonstrate that the proposed project is viable and the business will have the economic ability to repay the funds.
• Be completed within 24 months from the date of the loan approval.
• Increase permanent employment or retain existing jobs that would have been lost locally, primarily benefitting low- to moderate- income persons.
• At least one full-time equivalent position must be created for every $35,000 of CDBG funds requested.

Use of Loans

Acquisition of land, buildings, and fixed equipment; site preparation; clearance of land; rehabilitation of buildings; working capital; and public utility assessments. Loans are also available to assist dairy producers undertaking capital improvements that will increase milk production.

Loan Terms and Conditions

Minimum loan size is $25,000; maximum loan size is based on availability of funds. The loan term is equal to the useful life of the assets financed.  Interest rates are generally two percent above prime; however, lower rates can be negotiated based on need. A loan fee equal to 1% of the total loan amount is due at the time of the loan closing.  Loans may be repaid at any time without penalty, however, pre-payment will not exempt the Borrower from the job creation/retention requirements.