Western Dairyland Revolving Loan Fund
USDA Rural Development provided $50,000 in funds to Western Dairyland EOC, Inc. to create a micro-loan program available to clients in rural areas of Eau Claire, Buffalo, Trempealeau and Jackson counties.
City of Eau Claire
Good business is important to the well-being of our community. That is why the City of Eau Claire and the State of Wisconsin step forward to offer a helping hand to businesses that are creating new job opportunities, expanding their operations or bringing new technology to the City of Eau Claire. Here is a listing of some programs available to business owners.
- Revolving Loan Fund: Companies in manufacturing or service industries that will create new jobs are eligible. Dislocated workers who start manufacturing or service businesses are also eligible. Eligible uses of funds include fixed assets; capital equipment purchases; facility purchase, remodeling and rehabilitation; and some working capital uses. Terms: $10,000 loaned per each job created. Maximum loan is $150,000. The maximum term is ten years. Interest rate is 60% of the Wall Street Journal prime lending rate, but not less than 4%.
- Commercial Center Façade Loan Fund: The City of Eau Claire has created a Façade Loan Program to provide financial assistance to property and business owners to encourage the revitalization of old commercial strip centers in the City of Eau Claire. Loan size is $5000-$30,000 for 15 years at 0% interest.
Impact Seven, a statewide community development corporation, has assembled a group of revolving loan funds to create the Greater Wisconsin Fund. This fund is designed to assist business start-ups or expansion in Wisconsin communities.
Mississippi River Regional Planning Commission
The Mississippi River Regional Planning Commission provides administrative and technical support to several community, county or multi-county revolving loan funds (RLF). The following is a list of revolving loan funds administered by the MRPPC.
- Business Capital Fund: The Business Capital Fund is a revolving loan fund (RLF) designed to address a gap in private capital markets for long-term, fixed rate, low down payment, low-interest financing. The fund is targeted to manufacturers, tourism and selected service industries which create jobs and are located in Buffalo, Jackson, Pepin, Pierce and Trempealeau Counties
- La Crosse County Revolving Loan Fund: The La Crosse County Revolving Loan Fund (RLF) was formed to provide affordable financing to new business start-ups and business expansions that create jobs and contribute to economic growth in La Crosse County.
- CMV Growth Development Fund: The CMV Growth Development Revolving Fund is designed to foster growth in economic base activities that are the dominant force in affecting economic growth or decline in the Tri-county area of Crawford, Monroe and Vernon counties. The fund is targeted to manufacturers, tourism and selected service industries that create jobs.
- The Monroe County Revolving Loan Fund (RLF) Program is designed to promote local economic development by providing a source of long-term, fixed rate, low interest financing for new and existing business projects that are located in Monroe County.
Riverland Energy Economic Development Program
The funds for the Riverland Energy Economic Development Program can be used by new, expanding, and start-up businesses for real property, infrastructure, machinery and equipment. The loan has a 10 year maximum term and cannot exceed 50% of the total project. Client equity must be at least 25% for start-up businesses. Loan amount is determined by Riverland Energy Cooperative Board of Directors.
Small Business Administration (SBA)
The SBA does not directly provide grants or loans, but does guarantee business loans made by banks. These loan guarantees assure that, if the borrower defaults, the government will reimburse the lender for the guaranteed portion of the loan. The SBA loan guarantee programs enable banks to extend financing that might not otherwise be available. The SBA also oversees a 504 Loan Program, administered through Certified Development Companies, that funds the purchase of land, building, and equipment in business expansion. For more information and a list of Wisconsin Certified Development Companies, go to the SBA web site (click on <Financing>) or talk to your bank about using an SBA loan guarantee to reduce the risk of a business loan.
Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR)
These programs are operated by select federal agencies to provide R&D funding for U.S. small businesses. More than $1.5 billion is available annually to fund the development of innovations and technologies of designated national interest.
Wisconsin Economic Development Corporation (WEDC)
Start, Seed, Scale (S3) is a statewide solution securing resources for Wisconsin Entrepreneurs, including tech loans and expansion stage capital.
West Central Wisconsin Regional Planning Commission: Regional Business Fund
The Regional Business Fund, Inc. (RBF) was created by the West Central Wisconsin Regional Planning Commission in 1995 as a non-profit entity that promotes business and economic development in west central Wisconsin. RBF has established an EDA revolving loan fund and Consolidated Loan Fund, both of which are administered by WCWRPC.
Wisconsin Angel Network (WAN)
WAN provides a deal-flow pipeline for entrepreneurs of growth companies seeking investor capital. The WAN website offers a secure page for posting a company’s executive summary, where only qualified Wisconsin angel and venture investors have passwords to view the summaries. WAN also has services to video-record a capital-raising presentation to help companies reach a broad range of investors.
Wisconsin Business Development
The Finance Corporation was formed to assist small businesses in gaining access to capital in order to grow their businesses, provide job opportunities, and inspire their communities. The cornerstone of WBD's success is the delivery of the SBA 504 product. Sold nationwide exclusively by not-for-profit Certified Development Companies (CDC), the SBA 504 loan fulfills the U.S. Small Business Administration’s (SBA) public policy objective to support small businesses and create jobs in our communities through long-term, fixed-rate financing.
Wisconsin Business Innovation Corporation
The Wisconsin Business Innovation Corporation (WBIC), created in 1996, encourages the development of technology-based companies in rural Wisconsin. WBIC provides access to both debt and equity financing.
Wisconsin Division of Vocational Rehabilitation (DVR)
For DVR consumers who pursue self-employment, DVR may participate towards an approved business’s start-up costs in accordance with the Self-Employment Start-up Fee Schedule.
Wisconsin Focus on Energy
Focus on Energy works with eligible Wisconsin businesses to install cost effective energy efficiency and renewable energy projects.
Wisconsin Housing & Economic Development Authority (WHEDA)
WHEDA operates three programs of particular interest to entrepreneurs. The Agribusiness Loan helps new or existing businesses obtain financing on favorable terms to produce products using Wisconsin’s raw agricultural commodities. The Link Deposit Loan provides an interest rate subsidy on lender financing to women or minorities for business start-up or expansion. The Small Business Guarantee helps borrowers obtain financing on favorable terms for rural start-up and daycare businesses. For more information, go to the web site, email WHEDA at firstname.lastname@example.org, or call 1-800-334-6873.
Wisconsin Women’s Business Initiative Corporation (WWBIC)
WWBIC, with offices in Madison and Milwaukee, offers pre-loan business assistance and micro-loans to small businesses having difficulty obtaining bank financing. This financing is not limited to women-owned businesses. The maximum loan amount is $35,000.
Updated: March 2016