As the result of a grant received by the Janesville Innovation Center (JIC) from the George Parker Foundation, the JIC has established a Tenant Loan Fund. The purpose of the JIC Tenant Loan Fund is to provide working capital to JIC tenants for projects and investments that accelerate revenue growth, increase profitability and/or enhance the ability to secure additional capital. Loan amounts will range from $250 – $750 per project, with corresponding terms that are event or milestone based.
Eligible JIC Tenant projects include targeted investments that are focused on meeting any of the following goals:
Accelerate Revenue Growth – Projects may include contracted products or services that define target markets, identify potential customers/distribution channels and/or other sales growth initiatives. Tenants may also apply funds to projects that involve beta testing for their products and/or services with participating, prequalified clients.
Improve Profitability – Projects may include contracted products or services that better define and enhance accounting systems, reporting, and/or operating efficiencies.
Secure Additional Sources of Growth Capital – Tenants may apply for funding that enhances a company’s ability to secure additional capital from other debt and/or equity funding sources. Projects may include taking steps and related positioning activities to meet lending or investment requirements of debt and/or equity sources.
For additional information about the JIC Tenant Loan Fund and related business assistance programs offered by the JIC, please contact Mike Mathews (JIC Operations Manager) at 608.206.7121.
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