MONROE — Green County businesses are helping to spur development in local startups and emerging growth companies by providing financial support to the new Green County Growth Opportunity Fund. 

The fund is a revolving loan tool used for development and expansion of small businesses. Administered by the Green County Development Corporation, it is a self-replenishing pool of money, utilizing interest and principal payments on old loans to issue new ones. 

GCDC received $375,000 in matching funds from the Wisconsin Economic Development Corporation to establish the new fund. The William S. Knight Foundation, Colony Brands, Bank of Brodhead, Bank of New Glarus, First National Bank, Woodford State Bank, Wisconsin Bank & Trust, Greenwoods State Bank and Monroe Clinic contributed to the effort. 

The fund is a gap financing tool that can be used as a bridge between the amount the borrower can obtain in the private market and what is needed to start or sustain a business. For example, a borrower may obtain 60 to 80% of project financing from other sources. The balance can be provided by the Green County Growth Opportunity Fund. As businesses pay back their loans with interest, the fund will rebuild itself, constantly turning over to provide additional loans to other businesses.