Governor’s office announces interest-free loans for damaged Kenosha businesses
MADISON, Wisconsin (WMTV) – Businesses in Kenosha that suffered damage last week can receive up to $ 20,000 in interest-free loans to cover repair costs.
The loans can be used for cleaning and catering services, operating expenses and temporary space, depending on a Press release Tuesday from the governor’s office. The loans can also be used for payroll, repair and reconstruction work.
Governor Tony Evers, Senator Bob Wirch, Representative Tod Ohnstad, Representative Tim McGuire and the Wisconsin Economic Development Corporation made the announcement.
The loans will have a two-year repayment period, with the first payment deferred for at least six months.
“The people, businesses and community of Kenosha are suffering, but they are strong and seek to move forward united,” Evers said.
WEDC has allocated up to $ 1 million in funding for the loan program to help businesses. The governor and WEDC will continue conversations with city and county officials about the needs of the community and possible additional recovery assistance.
“After the tragedy, damage and destruction that the Kenosha community has witnessed, I hope we can now come together to heal and overcome divisions,” Ohnstad said. “As we look to the future, I appreciate this additional support from the Evers government to help us repair and rebuild the city we all love.”
WEDC will partner with Kenosha Area Business Alliance to administer the loans, and the governor’s office noted that businesses should contact KABA directly to access the loans.
The governor declared a emergency state in Kenosha on August 25.
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