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By LeAnn R. Ralph
COLFAX — The Regional Business Fund, Inc. administered through the West Central Wisconsin Regional Planning Commission has $15 million to lend under a variety of programs.
The Regional Business Fund became a non-profit organization in 2007 and consolidated Community Development Block Grant funds from a variety of communities that agreed to put their CDBG money into a revolving loan fund, said Jordan Pospishil, a lending specialist with the Regional Business Fund, Inc., at the Colfax Village Board’s March 11 meeting.
All together, $15 million was consolidated to be available for business loans, she said.
The West Central Wisconsin Regional Planning Commission serves the counties of Dunn, Polk, St. Croix, Barron, Chippewa, Clark and Eau Claire.
Businesses in the downtown area of Colfax are eligible for the Facade Program for many different projects, such as replacing brick, awnings or lighting, to do landscaping or to create outdoor seating areas, Pospishil said.
The loans are for $5,000 at zero percent interest and amortized over a 15-year period, she said.
Gary Stene, village president and a member of the Board of Directors of the Dunn County Economic Development Corporation, said he was glad the Regional Business Fund was becoming more visible.
The village must become better at helping existing businesses, he said.
“I want to move the village forward,” Stene said.
Pospishil said she would be happy to meet with business owners in Colfax.
In addition to the Facade Program, the Regional Business Fund has a Micro Loan program for up to $30,000, as well as other loan programs that are available, she said.
Stene said Pospishil should contact the Colfax Commercial Club and do a presentation on what is available through the Regional Business Fund.
With the Facade Program, “you can see the transformation,” Pospishil said, adding that she would bring a slide presentation to the Colfax Commercial Club meeting.
Boyceville is working on a “place-making” project right now, Pospishil said.
Colfax completed the Power of 10 workshop on place-making a few years back, noted Eric Turner, director of the Dunn County Economic Development Corporation.
Colfax has a good antique district, he said.
Pospishil gave her business card to the Colfax Messenger reporter, who also is the secretary of the Colfax Commercial Club.
Watch the Colfax Messenger for details about the meeting on loans available through the Regional Business Fund hosted by the Colfax Commercial Club