MCDEVCO’s COVID-19 Low Interest Loans are Available to Small Businesses Throughout Marathon County.
Businesses must be based in Marathon County, Wisconsin and suffered financial losses as a result of circumstances stemming from the Covid-19 pandemic may now apply for MCDEVCO’s low interest loans to help recover and reopen for business.
MCDEVCO is providing low interest loans to Marathon County-based businesses to assist with payroll, marketing, rent/lease payments, utility bills, inventory, and health and safety improvements to businesses (See application for complete listing).
- A series of low interest loans up to amounts of $20,000 based upon workforce and payroll retention.
Criteria for business eligibility to receive MCDEVCO’s loan include:
- Business must have been in operation as of March 25, 2020.
- Business MUST be physically located in Marathon County Wisconsin. If a business has other locations, funds can only be used for business expenses in their Marathon County location. No franchises.
- Business must either have been closed as nonessential or had operations severely limited by the State of Wisconsin Safer-at-Home orders.
- Business must have 10 or fewer full-time equivalent employees as of March 25, 2020.
- Home-based businesses, independent contractors, and sole proprietor firms are eligible.
- Property management, real estate rental and real estate sales businesses are not eligible.
- Businesses already receiving funds from the SBA’s Payroll Protection Program (PPP), Economic Injury Disaster Loan (EIDL) program, disaster insurance claim, and/or a financial loan cannot duplicate funding.
- Eligibility does not guarantee a loan will be made. MCDEVCO, Inc. may modify, condition or deny any request in its sole discretion.
MCDEVCO, Inc. will award loans on a first-come basis per applicant meeting all criteria until the funds are depleted. Businesses will be able to apply for low interest loan assistance beginning June 15, 2020. Applications are available online through MCDEVCO’s website at mcdevco.org, by calling MCDEVCO at 715.298.0084 or email firstname.lastname@example.org for a paper copy.
MCDEVCO has given out 50 $1,000.00 grants to small business throughout Marathon County!!!