The Economic Development Commission, on behalf of the City of Fort Atkinson, has awarded a Capital Catalyst Revolving Loan to Little Rainbows Play Place, LLC, to assist in operating costs associated with opening an indoor playground located at 1335 N. High St. in Fort Atkinson. Little Rainbows Play Place received a $50,000 loan through this program on Aug. 5.
Little Rainbows Play Place is a new business, owned by Niina Ajango Konz, created based on a response to a lack of indoor space within the region for families to play and connect with each other year-round. Little Rainbows has leased over 4,000 square feet, and have already started to invest in the facility which will include an indoor play structure, swings and activities that would commonly be found in indoor playgrounds.
They will offer drop-in rates as well as subscription options and separate hours to allow for private parties. The business will partner with local vendors including Berres Brothers Coffee Roasters, Papa Brunk’s Bakery and Brickhouse Pizza Pub. The business hopes to add 4-6 part time jobs. The business plans to open in September.
The goal of the Capital Catalyst Revolving Loan Fund program is to encourage the startup of new businesses and the expansion of existing businesses in Fort Atkinson. The focus will be on assisting companies in industry sectors including, but not limited to advanced manufacturing, agriculture or food processing, information systems or software, medical devices, biosciences and energy. Activities assisted with program funds should address one or more of the following:
- Encourage new private investment in the City of Fort Atkinson;
- Support a diverse mix of employment opportunities and minimize seasonal or cyclical employment fluctuations;
- Encourage the development and use of modern technologies that increase productivity and efficiency.
- Support the elimination of blight and encourage urban redevelopment.
Loans of up to $100,000 are available through this Fund, made possible by a Grant from the Wisconsin Economic Development Corporation. The team at the Jefferson County Economic Development Consortium will work with applicants through the application and underwriting process. A Loan Review Committee will review applications and make recommendations to the Economic Development Commission for approval.
Anyone interested in more information is encouraged to review the application and loan guidelines on the City’s website at www.fortatkinsonwi.gov. Those interested in applying for the Capital Catalyst Revolving Loan Fund should contact Deb Reinbold, Executive Director of JCEDC at DReinbold@jeffersoncountywi.gov or 920-674-8710.
photo caption: Niina Ajango Konz and her business Little Rainbows Play Place have received a Capital Catalyst Revolving Loan. The loan was awarded on Aug. 5 by the Economic Development Commission
for $50,000 to help with the startup costs for her new business. Konz is seen with her family and well-wishers accepting the funds for the loan on Monday.