Recovery Revolving Loan Program
Due to the COVID-19 pandemic and its devastating effects on local businesses, especially service, retail, hospitality and restaurants, the City is creating the River Falls Recovery Revolving Loan program and has funded it with a maximum of $500,000. The purpose of the River Falls Recovery Revolving Loan program is to help provide additional funding and support for the retention of small businesses in River Falls that are affected by the COVID-19 pandemic. The program is intended to be used in conjunction with other financing, including but not limited to bank loans and SBA financing programs.
Applications are being accepted until June 5, 2020 at 5:00 pm. Please fill out the Recovery Revolving Loan Application below. For more information on the Recovery Revolving Loan program, please see the Policy below. For questions please contact Keri Schreiner, Economic Development Manager at firstname.lastname@example.org.
Revolving Loan Program
The City of River Falls has operated a Revolving Loan program since 2001. The program is intended for commercial properties within the eligible boundaries to make property improvements. Business owners may request a loan of up to $50,000 in order to finance improvement projects. Successful participants in the past have completed projects such as construction of new buildings or improvements to existing structures, some increasing property value by more than 20%.
For more information on the Revolving Loan program, please see the links below or stop by City Hall, at 222 Lewis Street in River Falls.