MADISON – Propane dealers are receiving some financial support in the midst of Wisconsin’s propane shortage.
The Wisconsin Housing and Economic Development Authority has established a $3 million loan guarantee program. WHEDA will guarantee up to 50 percent of bank loans to propane dealers for up to a year.
“WHEDA is pleased to implement a new loan guarantee program to provide financing to dealers to quickly purchase propane so homeowners can continue to heat their home during this rough winter,” said WHEDA Executive Director Wyman Winston in a release.
Qualifying propane dealers must be in business for at least 12 months and will be required to complete a compliance application through a participating WHEDA lender to access the loan guarantee.
Small businesses that require propane may be eligible for assistance for fuel and other business-related needs under WHEDA’s Small Business Guarantee Program.
Click here for more information about WHEDA’s Propane Guarantee and Small Business Guarantee Programs.