Forest County Potawatomi Foundation provides grant for FCEDP revolving loan fund initiative
The Forest County Potawatomi Foundation announced a grant for the Forest County Economic Development Partnership (FCEDP) Revolving Loan Fund. The foundation announced a $25,000 investment to the fund to help establish a Revolving Loan Fund in Forest County. Announced late last fall, the fund will operate as a micro-loan fund designed to encourage the creation and retention of permanent jobs within the county. The fund will also encourage new private investment into Forest County in the form of fixed asset investment, perpetuate a positive and proactive business climate, maintain a diverse mix of employment opportunities and minimize seasonal employment effects.
The $25,000 grant by the Forest County Potawatomi Foundation matches the funds already contributed by CoVantage Credit Union and Laona State Bank.
The loan fund structure is currently being developed; applications will not be solicited until later this spring. One of the goals of the fund will be to support entrepreneurial efforts of enrolled tribal members in addition to other residents of Forest County.
FCEDP is a local economic development organization formed with the combined support of the Forest County Potawatomi Foundation, City of Crandon, Forest County Potawatomi Community, Sokaogon Chippewa Community, Forest County Government, Wabeno Chamber of Commerce, Forest County Chamber of Commerce and the Forest County Tourism Commission.