The city of Kiel has been awarded $60,000 through the Wisconsin Economic Development Corporation’s Small Business Development Grant program.
The city will use the grant with its façade revolving loan fund to help small businesses in the Riverwalk District grow by providing low-interest loans for building improvements and financial support. Awardees will also receive 1:1 business counseling from the local economic development agency, Progress Lakeshore, to ensure they are utilizing and connected to all the available resources that can enhance their likelihood of success.
“Our small businesses are vital in our city to drive innovation, create jobs, and foster economic growth,” said Dave Funkhouser, city administrator.
The SBDG Program provides grants to local communities and organizations to directly invest in small businesses and encourage new business creation. In total, 19 organizations across
Wisconsin received nearly $3.2 million in grants. The funding supports initiatives such as strengthening Main Streets, youth entrepreneurship, infrastructure improvements, technical assistance, and more. Grant awards range from $50,000 to $250,000, and 100 percent of the funds must be passed directly on to small businesses.
Details about the application process and eligibility requirements for Kiel’s revolving loan fund will be announced soon by the city.
