Post Messenger Recorder -

With the closure of Tax Increment Financing District #2 in 2015, the Village Board was able to contribute approximately $125,000 in excess tax increment to a newly created Revolving Loan Fund program (RLF). The purpose of the RLF program is to create employment opportunities, increase local incomes, and ultimately enhance the New Glarus tax base through improvements in valuation of commercial properties within the village. The RLF program provides the Village with an economic development tool to encourage business growth and expansion through smaller gap financing loans.

“With the Revolving Loan Fund program, we are excited to offer a low-interest loan resource to our business community to leverage their reinvestment in their buildings and businesses, which continue to support the vibrancy of our community,” said Bryan Gadow, Village Administrator.

The Village’s Community Development Authority (CDA) will administer the RLF program and make loan application funding decisions. The CDA will review loan applications on a rolling basis. The standard minimum loan amount is $10,000, and applicants will be required to partner with a local financial institution as part of any loan award.

Those interested in obtaining more information about the RLF program requirements and application materials, may go to http://www.newglarusvillage.com/government/economic-development. Questions may be directed to Bryan Gadow, Village Administrator, at (608) 527-5971 or bgadow@newglarusvillage.com.