This grant enabled Iron County to establish a revolving loan fund in order to assist local entrepreneurs with their business ventures. The Town of Mercer was awarded an Economic Development Grant from the Wisconsin Development Fund in 1988. The proceeds of this loan are being used to establish a Revolving Loan Fund for the Town of Mercer. This loan fund augments private sector investment in plant and equipment to expand productivity. It is targeted at the timber and wood products industry, tourism and other manufacturing and service industries.
Application is made through the municipality.
Funds may be used for soft costs only, such as planning, engineering, ad marketing assistance. These are administered through local units of government for the benefit of the local economy and, indirectly, private enterprise. Employee Ownership Assistance Loan Program , administered by the state Department of Commerce, makes loans to employee groups seeking to determine the feasibility of such employee group purchasing an existing or recently closed Wisconsin business.