Revolving Loan Fund

Policies & Application
In July 1988, the Village of Howard was awarded a $502,500 grant from the Wisconsin Development Fund (WDF). The grant was provided under the Economic Development Program administered by the Wisconsin Department of Development. Program revenue from the grant was utilized for the Village of Howard Economic Development Revolving Loan Fund (RLF).

The original WDF grant (Contract No. 816-E) provided a loan of $497,500 to the Integrated Design Corporation for the purchase of equipment and working capital. Principal and interest repaid by the Integrated Design Corporation and from other companies utilizing the loan going forward are used to establish the Village of Howard's Revolving Loan Fund. This fund will provide a second source of financing for eligible businesses wishing to expand or locate in the Village of Howard.

Policies and procedures contained in the RLF manual govern the use of the revolving loan funds. These policies were originally adopted by Resolution No. 1989-16 and were amended by Resolution No. 1990-13.