Door County COIN Micro-Loans
Door County COIN operates as a 501(c)(3) public charity under the tax umbrella of the Door County Community Foundation, Inc. COIN loans fit the following criteria:
- Borrowers must have business operations in Door County, Wisconsin
- Potential to eventually become a year-round business
- The minimum loan amount is $5,000
- The maximum loan amount is $50,000
- These are generally “character loans”
- COIN is typically the lender of last resort
- The average loan is expected to be $20,000
COIN loans are made through Nicolet National Bank with the financial backing of the Door County Community Foundation, Inc. Applicants usually do NOT meet the criteria for a traditional bank loan and thus a COIN loan is often their last affordable source for business capital.
The COIN Loan Committee is comprised of COIN’s Board Members, Founders, and successful businessmen and women. The final step before a COIN loan is awarded is for the applicant to meet with the COIN Loan Committee.
Start by Contacting the Door County Economic Development Corporation
The Door County Economic Development Corporation says, “We invite you to learn more about doing business on the Door County Peninsula. The DCEDC staff stands ready to answer any questions you may have about starting, expanding, or relocating your business to Door County.” Helping businesses grow on our peninsula is what they do.
Entrepreneurs who are in need of capital should email firstname.lastname@example.org and they’ll be put in touch with DCEDC for assistance. You can also contact them directly at (920) 743-3113. The professionals there will help identify possible sources of capital – and whether a COIN loan might be the right one for you!