Port Washington State Bank has renewed its six community business loan programs for 2015, and removed a previous limit of $250,000 per municipality.
“The need is great, and the bank is in a position to lend a hand to strengthen our business districts. Removing that limit allows more businesses to apply for these programs,” said James Schowalter, senior vice president and chief credit officer.
The programs are offered in Port Washington’s Main Street District, the Village of Saukville, the Town of Cedarburg, the Village of Thiensville and the South Commercial District in Grafton.
Current and prospective business owners can apply for low-cost, fixed rate loans of between $5,000 and $50,000 in order to redevelop, purchase, enhance or make leasehold improvements tor real estate in those communities. The loans can also be used to purchase equipment or for other startup costs.
“We designed these programs to help foster and grow our business communities,” Schowalter said. “We have had a tremendous response and have been able to fund over 50 loans for $2.5 million since the programs’ inception in 2012.”
Port Washington State Bank has $482 million in assets under management and has six locations serving Ozaukee County.
