Click for Growth Opportunity Fund Application
Do you have a startup or new business (in business 5 years or less) that could use gap financing to grow? Green County Development Corporation can help you achieve your financing goals!
GCDC’s Growth Opportunity Fund loans of up to $100,000 per business are available for high growth startups and emerging growth companies such as advanced manufacturing, agriculture or food processing, information systems or software, medical devices, biosciences and energy.
There is no job creation requirement to be eligible. Financed activities must be located within Green County or within a municipality partially located in Green County. As businesses pay back their loans and interest, that funding will be used to make loans to more businesses (a revolving loan fund).
Interest Rates and Eligible Activities
The rate may be fixed or graduated on a fixed schedule, but the interest rate will never be more than 2 percent above the Wall Street Journal prime rate at the time the loan is issued.
Eligible activities for loan monies include: acquisition of land, buildings, and fixed assets; site preparation and the construction or reconstruction of buildings or the installation of fixed equipment; clearance, demolition, or removal of structures or the rehabilitation of buildings and other improvements; payment of assessments for sewer, water, street, and other public utilities if the provision of the facilities will directly create or retain jobs; and working capital (inventory and direct labor costs only).
First, contact our local Small Business Development Center (SBDC) business counselors at [email protected] to figure out how much money you need and discuss funding sources. Then we can help you work with your local lender to determine how much funding you can obtain in the private market and the amount still needed to start or grow your business (the gap). Your local SBDC business counselor will help you complete your application for the gap funding you need. Applications are then submitted to the Growth Opportunity Fund Committee for review.
Applications may be submitted at any time and will be processed in the order received. For more information, contact GCDC at (608)328-9452 or [email protected].