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Revitalization Loan Offered by Fort Chamber

June 13, 2018
Revitalization Loan Offered by Fort Chamber
 
          The Fort Atkinson Area Chamber of Commerce is pleased to support economic development efforts through its Revitalization Loan program. Five local financial institutions partner to provide funding for exterior improvements to properties used for business purposes. The business owner at 211 South Main Street is the most recent recipient of this loan, which he is using to restore the business façade to a more historic representation of the original building.
          Business property owners may apply for up to $50,000 for exterior improvements to retail or commercial properties. All work must comply with city codes and ordinances, and borrowers must meet acceptable credit standards and provide collateral if deemed necessary. In addition, the property owner must maintain the majority of his/her banking relationship with at least one of the participating lenders. Loans granted to any one borrower for any one building may not be less than $5,000, and the maximum loan term cannot exceed ten years.
          Projects are selected through a competitive application process with attention given to the degree to which the project contributes to the property’s preservation, restoration, or maintenance, its location and historic value, the scope of the project, and whether the project design blends well with surrounding structures. The City of Fort Atkinson’s Comprehensive Master Plan is also considered by the selection committee before final approval.
          Potential applicants can contact the Fort Atkinson Area Chamber of Commerce for an application, which is then submitted for review to the chamber’s Revitalization Design Team. Upon approval, the applicant can then complete the necessary paper work through one of the participating lending institutions (Badger Bank, Fort Community Credit Union, Greenwoods State Bank, Johnson Bank, or PremierBank).
          The Fort Atkinson Area Chamber of Commerce is open Monday through Friday, 8:00am to 5:00pm, at 244 North Main Street. A full directory of chamber members is available at www.fortchamber.com.
 
 
Contact:
Carrie Chisholm, Executive Director
director@fortchamber.com, (920) 563-3210