Advance, the economic development arm of the Green Bay Area Chamber of Commerce, has launched a Brown County MicroLoan Program. The progressive microloan program – only one of a few in the state – is geared to entrepreneurs and small businesses.
The program represents the work of Advance and the 10 key financial institutions partners participating in the program. They include: Associated Bank, The Business Bank, BankFirst National, Baylake Bank, Denmark State Bank, Heartland Business Bank, Johnson Bank, M&I Bank, Nicolet National Bank and Wells Fargo.
“Advance is pleased to have taken a leadership role in establishing this Brown County MicroLoan Program, which will fill an existing gap for small businesses and local entrepreneurs to create, improve or expand their business opportunities that might not be eligible for more traditional means of financing due to their small size and/or lack of proven track records,” says Fred Monique, president of the Green Bay Area Chamber of Commerce and vice president of Advance.
The program – the culmination of more than two years of work – establishes a pool of monies intended to boost the local economy through funding of entrepreneurs, emerging businesses and small businesses seeking to establish or grow their businesses.
The program is available to for-profit businesses of all sizes and in all industries in Brown County. Loans are available for $5,000 to $100,000 and may be used for the purchase of machinery and equipment to be used in the business, inventory and working capital (including payroll), down payments for leased space, supplies, insurance premiums, legal and accounting expenses.