Choose Clark County Launches Revolving Loan Fund

Updated: Jun 30, 2021

NOW ACCEPTING APPLICATIONS!


Clark County businesses can now apply for low-interest financing from Choose Clark County (CCC), the county-wide economic development organization. CCC has launched a Revolving Loan Fund to help new businesses get off the ground or to help current small businesses wishing to expand.


Kristin Brekke Vandersnick, the organization’s executive director, explains that a federal grant kickstarted the project.


“We applied for and were excited to receive a grant from USDA Rural Development to capitalize this Choose Clark County revolving loan fund,” Vandersnick stated. “These grant dollars, combined with some funds from our own budget, give us $108,000 to work with at this stage. We hope to continue growing it even larger in the future.”


As loans are made and then paid back, the Revolving Loan Fund will award more new loans and keep money circulating in the community.


Greg Janisch serves as the president of the Choose Clark County board of directors. To him, the start of this revolving loan fund is a sign of growth for the young organization.


“Having a revolving loan fund was something we talked about right from the start, and we’re grateful for this grant opportunity from USDA,” Janisch commented. “Being able to offer low-interest loans will allow us to help Clark County businesses in a very tangible way.”


A wide variety of projects may be eligible for financing, including:

- Acquisition and development of land, easements, and rights-of-way;

- Construction, conversion, enlargements, repairs or modernization of buildings;

- Plants, machinery, and equipment;

- Technical assistance for private business enterprises;

- Utilities, pollution control, or abatement;

- Funds for start-up, operating costs, and working capital.


Businesses must be physically located in Clark County to be eligible. Applications are now available at this link: https://www.chooseclarkcounty.org/do-business-here. For more information, contact Kristin Vandersnick at (605) 880-7840 or director@chooseclarkcounty.org.



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