Another proposal
from Wisconsin’s recent Dairy Task Force has been signed into law. Senate Bill 219, now Act 62 requires
the Wisconsin Housing and Economic Development Authority (WHEDA) to use three
million in existing funds to establish a pilot loan guarantee program within the
agricultural development’s loan guarantee program that can be used for brick-and-mortar investments,
equipment and machinery, marketing, and working capital.
It’s a pilot supported by the Wisconsin Cheese Makers Association, which says it will guarantee up to 25 percent of a loan, or $750,000, whichever is less and, the rigorously vetted borrower is required to pay back the entire loan, with a state commitment only happening in the event of a default.
Continue reading New Wisconsin law creates ag loan guarantee program at Brownfield Ag News.
