Revolving Loan

The Adams-Columbia Electric Cooperative Revolving Loan Fund is available to finance business facilities and community development projects which create or retain jobs and increase capital investment in rural communities in rural areas. Funds are available to assist with new or expanding businesses in Portage, Waupaca, Juneau, Adams, Waushara, Marquette, Green Lake, Sauk, Columbia, and Dodge counties.  This program is in conjunction with the USDA – RECD and the Rural Development Authority for Rural Development and Economic Growth.

Program Features:

  • Funding assistance up to $250,000
  • 50% of the total project cost
  • Every $20,000 must be attached to a permanent full-time position
  • Long-term, fixed rate, reasonable financing
  • Funds complement and may be used in conjunction with other programs such as SBA, CDBG, and WHEDA

Funds May be Used for:

  • Business acquisitions, construction, repair or expansion.
  • Purchase and development of land, buildings, and facilities.
  • Start-up costs and working capital.
  • Feasibility studies or other “soft” costs.

Ineligible Uses:

  • Businesses involved in agricultural production.  (Certain commercial nursery, aquaculture, forestry, mushroom and hydroponic production operations may  be exempt.)
  • Transfer of ownership, except to prevent loss of jobs
  • Charitable and educational  institutions, churches and fraternal organizations

Repayment Terms and Rates:

  • Loan repayment terms and interest rates are negotiated between Adams-Columbia Electric Cooperative and the ultimate recipient.
  • All loans must be adequately secured in accordance with the criteria as established by Adams-Columbia  Electric Cooperative.

Borrowers:

  • Must be unable to obtain the loan from other sources at reasonable rates and terms.
  • Must meet the objectives and purposes of the program as established by Adams-Columbia.
  • Must be located in a rural area or a city with a population less than 25,000.
  • Must, to the maximum extent possible, recruit low-income persons and displaced farm families for the new jobs created.

* Appraisals, feasibility studies and specific environmental reviews may be required prior to funding decisions.