Businesses in Kalkaska have a new resource to fund growth and expansion through a loan fund from the Kalkaska County Economic Development Corporation in cooperation with Venture North Funding & Development.
The Kalkaska County EDC Loan Fund can support improvement projects of up to $50,000 for businesses within Kalkaska County. Interest rates are between 5 and 8 percent on terms up to five years. Clients can also receive assistance from local SCORE counselors on business plans, cash flow projections, market research and more. Venture North will assist with loan underwriting and related services.
The Golf Shop, a local business on S. Cedar Street (US-131) in downtown Kalkaska, is tapping the EDC Loan Fund for just over $40,000 to make significant improvements to the building exterior. Kalkaska Downtown Development Authority Director Cash Cook said the shop, which is owned by Dennis Brady and Mike Alpers, was among several downtown buildings in line for facade improvements funded through the state before the program was discontinued.
Cook said the EDC Loan Fund was able to step in with the needed financing. He hopes other businesses throughout the county will take advantage of business development funds available through the EDC, the DDA and the village’s brownfield program to grow their operations.
“Any business in the county has access to these resources and others from Venture North,” Cook said. “We want to help you assess what your needs are and leverage all these assets that are available to help the businesses in and around Kalkaska.”
Information on how to apply to the Kalkaska EDC Loan Fund and other business financing programs available through Venture North is available through its website at www.venturenorthfunding.org
Venture North Executive Director Laura Galbraith said her office looks forward to assisting Kalkaska County businesses with their financing needs and hopes they take the opportunity to explore available resources through Kalkaska County and Venture North, which features an array of business financing programs.
“We’re excited to extend our services to Kalkaska’s business community to promote business growth and job creation,” Galbraith said. “We look forward to playing an integral role in continuing to expand Kalkaska’s local economy.”