DIXON – The Dixon Chamber of Commerce and Main Street is looking to give a financial bump to start-ups and growing businesses.
The organization is giving microgrants to new or expanding businesses, matching funds from $1,000 to $5,000 on a case-by-case basis.
A revolving loan fund also will be available to those businesses to fill a financing gap in a development project working with a chamber member bank, with principal and interest going back into the program for future applicants.
The first recipient of the microgrant is Moxie Solar Illinois, which recently opened up an office in the old Walter C. Knack Co. at 501 W. First St. The Iowa-based solar company announced in May that it plans to hire 50 people in the next 3 years.
The grant will be used to spruce up office space in the building, which the city is leasing to the company for $1 a year until it moves forward with riverfront development plans or the company finds a location elsewhere in Dixon.
“This is a wonderful opportunity to show what our organization is capable of providing for our businesses, both large and small,” said Stacey Colledge, president and CEO of Chamber Main Street. “We are glad to award our first microgrant to Moxie Solar Illinois and to see them use it to help energize the downtown.”