New Loan Program from Lakeshore CAP

Current business owners and new entrepreneurs in Northeastern Wisconsin can make use of a loan program administered by Lakeshore Community Action Program (CAP), Inc. of Wisconsin to help start or grow a business and spur community economic development. Loans are available to small and emerging businesses in rural areas of Door, Kewaunee, Manitowoc and Sheboygan Counties.

“We are pleased to add this revolving loan fund to our programming. We hope to encourage job creation as well as foster business start-ups in the Lakeshore Counties,” says Christine Loose, program manager.

Funds can be used for start-up and working capital, land acquisition, building and plant renovations or construction, purchase of inventory, project planning and other business needs. Eligible applicants include small and emerging private business enterprises that employ 50 or fewer employees, have less than $1 million in projected gross revenues, and are located in rural targeted areas. The program can lend from $5,000 up to $20,000 at no less than four percent interest with a maximum term of 15 years. Revolving loan funds are available through the Lakeshore CAP Business Incubator. For more information and how to apply, visit lakeshorecap.org or call 800.924.0510.