Disaster recovery microloans available for Portage and Wood county businesses
For the City Times
WAUSAU – The North Central Wisconsin Regional Planning Commission (NCWRPC) has partnered with the Wisconsin Economic Development Corporation (WEDC) to provide Disaster Recovery Microloan (DRM) funds. This program will provide a source of funds for small businesses to cover expenses related to storm damage that occurred in July. Businesses within Langlade, Portage, and Wood Counties are eligible to apply.
The loans, up to $20,000 per business, may be used for procurement of cleanup and restoration services, operating expenses, temporary space, and repair and reconstruction work. These are no-interest loans have a two-year repayment period, with payments deferred for at least six months.
“Storms had a devastating economic effect on our areas small businesses”, said Darryl Landeau, senior planner with the NCWRPC. “This new program provides an immediate source of funds to help those impacted businesses recover from this disaster.”
For more information about the microloan program, visit www.ncwrpc.org.