Waukesha County has added $4.5 million to the revolving loan fund created by the Waukesha County Center for Growth.
The Generating Resources and Opportunity in Waukesha County or GROW Fund was originally started in 2019 with $2 million from four founding members, Town Bank, Bank Five Nine, Johnson Financial Bank and BMO Harris Bank.
“Meeting the financial needs of businesses to help them grow often requires the availability of strong lending partners,” said Nate Zastrow of Bank Five Nine. “The county’s foresight into helping to jump start the GROW Fund establishes that vital lending partner.”
Waukesha County executive Paul Farrow said the $4.5 million commitment from the county shows the county’s commitment to job creation and growing the county’s economy.
“We have to keep our foot on the accelerator to remain competitive and help businesses locate and expand in Waukesha County,” Farrow said.
The GROW Fund helps businesses expand operations or re-locate. It has leveraged another $6 million in other business investments since it started, helped create 50 jobs and retained 123 jobs in Waukesha County.
“Waukesha County’s generous contribution into the revolving loan fund makes another impactful statement about its commitment to ensuring a growing and thriving economy,” said Nicole Ryf, executive director of the Waukesha County Center for Growth.
The Milwaukee Economic Development Corp. manages the fund.
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