Forte Research receives loan to create jobs

Forte Research Systems, a Madison-based clinical research software developer, has received a $550,000 loan from the Wisconsin Economic Development Corp.’s Business Opportunity Loan Fund program for startups and early-stage companies. The money will go toward helping the company expand and create new jobs.

The loan represents about 13% of the company’s $4.3 million expansion costs and must be paid back at a 2% interest rate over five years. The company also agreed to retain its current 69 positions, create 55 full-time jobs by August 2017, and retain all of those jobs at least through August 2019. At least 85% of the new jobs must be full time.