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Dodge County board approves revolving loan fund

MANTORVILLE — Dodge County Board of Commissioners have approved establishing an economic development revolving loan fund to further business growth in the county.

Funding for the loan came from a $257,000 grant the county received from the state to assist local businesses with clean-up and recovery after the August 2007 flood.

The grant helped the county make low-interest loans to affected business. Now that a portion of those loans have been repaid, the county will be able to re-use those funds to assist other businesses.

Under the program guidelines, Dodge County businesses may be eligible for up to $15,000 in gap financing, which can be used in combination with traditional financial lenders and other business incentives available.

Interested Dodge County businesses are encouraged to contact the Dodge County Economic Development Authority at (507) 635-6272 for more information and eligibility requirements.

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