A banner hangs in downtown Kiel. The city recently learned it was selected to received a small business development grant from the Wisconsin Economic Development Corporation. PC: Fox 11 Online
KIEL, WI (WTAQ-WLUK) — An already successful small business grant program in Kiel is getting another boost.
The city was recently selected by the Wisconsin Economic Development Corporation for funding through its Small Business Development Grant program, meaning Kiel is open for business.
“We love our large corporate partners that we have in the community that provide us with industry and commercial growth, but the small business owners are the key component to keeping the glue of economic development in a community,” said Dave Funkhouser, Kiel city administrator.
The city, at times, caters to its small businesses, understanding the impact they have on the community. A long standing façade improvement program is one of those times.
“My husband and I bought this building a few years ago and it was one of the bigger eye sores in town. So we needed a lot of help with it, and the city was gracious enough to help us out with a façade loan, and we revised it and revamped it and it turned out well,” said Brand & Design, Co. owner Jamie Dahmer.
And now, after being awarded $60,000 in small business development grant funding through the Wisconsin Economic Development Corporation, the city of Kiel is preparing to open up an application process to award additional loans.
While the city is hoping the funding will help to enhance existing businesses and continue the downtown revitalization efforts, they’re also looking to fill vacant store fronts and attract new entrepreneurs to town.
The flexibility of this grant funding can do just that.
Funkhouser said, “They’re able to use it for any number of resources to improve infrastructure, building structure needs, add tables, add counters, but then it also goes to anything else like enhancements of technology. They can use it to hire additional staffing in their business. Pretty much anything goes at this point.”
And since the grants are part of a revolving loan fund, the city plans to reinvest the payments, principle and interest back into Kiel.
“Once those downtown grant funds are expended, the money that comes back into fund, then we can use to support other businesses outside of the downtown district,” added Funkhouser.
The application for the new grant funding is being finalized. Businesses will soon be able to start applying — with approval expected to happen quickly.
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