MadREP launches rural revolving loan fund

The Madison Region Economic Partnership (MadREP) announced the launch of a USDA revolving loan fund (RLF) focused on entrepreneurs and growing businesses in Columbia, Dane, Dodge, Iowa, Green, Jefferson, Rock, and Sauk Counties. The program is being transferred from the Columbia County Economic Development Corp., which established the RLF over the past 20 years by earning three USDA grant awards for a total of $324,210. The program will increase access to capital for MadREP businesses and is designed to provide gap financing that will supplement loan funds from traditional lending sources. The focus of the funding is to support projects creating or retaining jobs and tax base in rural communities.