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Community Action Revolving Loan Fund

The Community Action Revolving Loan Fund is available to individuals starting or expanding businesses in rural communities of the following 22 Wisconsin counties:

  • Adams
  • Ashland
  • Bayfield
  • Buffalo
  • Burnett
  • Crawford
  • Eau Claire
  • Green Lake
  • Iron
  • Jackson
  • Juneau
  • Lafayette
  • Marquette
  • Price
  • Richland
  • Rusk
  • Sawyer
  • Taylor
  • Trempealeau
  • Vernon
  • Washburn
  • Waushara

Loan applications are to be accompanied by a business plan, which can be drafted at no cost with assistance from the Western Dairyland Business Center business development specialists.

Eligible uses of Micro-Loan funds include:

  • Tools or equipment
  • Facility renovation or remodeling
  • Starting inventory
  • Professional services, such as web site development
  • Working capital

Ineligible uses include:

  • Refinance
  • Real estate
  • Agricultural production
  • Regional planning
  • Programs operated by cable television systems
  • Partial funding where the balance of the funding is not committed

Applicant eligibility criteria are: (Contact us to confirm eligibility.)

  • United States citizen or federally approved United States resident.
  • One concurrent loan per household.
  • Existing or new business.
  • Existing business has less than $1 million in gross annual sales and less than 50 employees.
  • New business is projected to have less than $1 million in gross annual sales and projected to have less than 50 employees.
  • Primary business address is located in one of the 22 counties listed above..
  • Primary business address is located in an area defined as eligible by USDA Rural Development.

Loan acceptance or denial decisions are made by a Loan Review Committee that consists of members of the community.  The Loan Review Committee has the authority and flexibility to specify additional terms and/or conditions that would make an otherwise denied application acceptable. 

Standard terms are:

  • The minimum loan amount is $2500.00.  The maximum loan amount is $15,000.00, subject to funds availability.
  • Loan terms are 1, 2 or 3 years according to client request, but subject to Loan Committee approval.
  • The standard interest rate will vary between 4% and 8%, depending on factors such as job creation, the current prime rate and overall l risk. Interest is charged on the outstanding balance whether or not the entire loan amount has been disbursed.
  • A $50 closing fee plus any out-of-pocket loan set-up expenses, such as lien filing fees, is due before or at the time of closing.
  • The applicant agrees to loan repayment via ACH automatic withdrawal.
  • The applicant secures the loan with collateral acceptable to the lender and of cumulative value the lender accepts as at least equal to the loan amount. 
  • The applicant provides proof of property insurance.  The property insurance is to provide coverage for any items used as collateral, including items to be acquired with loan proceeds.  The property insurance is to provide sufficient coverage limits to repair or replace the items to be acquired with loan proceeds should those items become unusable through an event covered by the insurance policy.  If loan proceeds are to be used to purchase property insurance, written estimates/quotes are required.  Estimates/quotes are to be on agency/company stationary.

Click here to download a Loan Application. For more information or to receive assistance with your application, contact us.

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