Brown County MircoLoan program hits $400,000 mark

Posted on Jan 26, 2012 :: Insight on Business, Web Exclusive.
Posted by of Insight Publications

The Advance Brown County MicroLoan program reached a milestone, issuing $400,000 in microloans with the approval of its latest microloan to Stay n’ Play Child Care.

Stay n’ Play Child Care is a Bellevue-based daycare center owned by Tiffany O’Neil that is evolving from an in-home setting to a larger facility that will offer extended and weekend hours. She hopes to be open for business by March 1.

Marianne Dickson, director, Advance Brown County MicroLoan program, says the MicroLoan program is available to for-profit businesses of all sizes and in all industries in Brown County. Businesses must be active – passive businesses owned by individuals who are not directly involved in the business’s day-to-day operations are not eligible. 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.