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PROGRAMS

  GrowthFacadeMicro

  TEFEDA


REVOLVING LOAN FUND (RLF)

SUMMARY:

The Revolving Loan Fund (RLF) is a flexible source of loan funds for commercial and industrial projects. The purpose is to encourage the creation of quality jobs and to increase the tax base.

 

 

FINANCE TERMS AND CONDITIONS

  • Loan sizes of $25,000 and up.   
  • 4% fixed interest rate.   
  • Deferrals of principal & interest or principal payments may be allowed.   
  • Repayment terms can be up to five years for working capital, seven to ten years for machinery and equipment, and ten years for real estate.   
  • Collateral is required.   
  • Unlimited personal guarantees are required for any owner with a 20% or greater ownership interest in the business.   

ELIGIBILITY

  • Be located in, or propose to locate in, West Central Wisconsin (Counties of: Barron, Chippewa, Clark, Dunn, Eau Claire, Polk, and St. Croix).*   
  • Create and/or retain jobs.   
  • Demonstrate ability to repay the loan.   
  • Eligible activities include:  acquisition of equipment, machinery furniture and fixtures; new working capital; site improvements; land and building acquisition; new building construction or building renovation.   

*Some communities within these counties may not be participating.

APPLICATION PROCEDURE

Interested businesses complete and submit applications to their local County Economic Development Corporation or directly to the West Central Wisconsin Regional Planning Commission.

Download RLF Application: (MS-Word) (PDF)

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Growth Loan Fund

SUMMARY:

The Growth Loan Fund is for existing newly founded companies that have financial needs that cannot be met by traditional financing. These are companies that are too old for the Micro Loan program, but their financing needs are not large enough to structure through the RLF program.

FINANCE TERMS AND CONDITIONS

  • Loan sizes from $10,000 to $60,000.   
  • 4% fixed interest rate.   
  • Deferrals of principal & interest or principal payments may be allowed.   
  • Repayment terms can be up to five years for working capital, seven years for machinery and equipment, and ten years for real estate.   
  • Collateral is required.   
  • Unlimited personal guarantees are required for any owner with a 20% or greater ownership interest in the business.
  • Approved loans are enrolled in the Capital Access Program.   

ELIGIBILITY

  • Be located in, or propose to locate in, West Central Wisconsin (Counties of: Barron, Chippewa, Clark, Dunn, Eau Claire, Polk, and St. Croix).*   
  • Business in operation for at least 2 years.   
  • Business plan required clearly outlining the sales growth strategy.
  • Demonstrate ability to repay the loan.   
  • Eligible activities include:  new working capital; acquisition of equipment, machinery furniture and fixtures; site improvements; land and building acquisition; new building construction or building renovation.   

*Some communities within these counties may not be participating.

APPLICATION PROCEDURE

Interested businesses complete and submit applications to their local County Economic Development Corporation or directly to the West Central Wisconsin Regional Planning Commission.

Download Growth Application: (MS-Word) (PDF)

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DOWNTOWN FACADE LOAN FUND

SUMMARY:

The Downtown Facade Loan Program provides financial assistance to encourage property and business owners in core downtowns to revitalize downtown commercial buildings within the towns, cities, and villages of West Central Wisconsin.

DESIGN REQUIREMENTS:

Applicants must provide acceptable facade design plans that comply with approved general design guidelines adopted by local governments.

FINANCE TERMS AND CONDITIONS

  • Loan sizes from $5,000 to $30,000.   
  • 0% fixed interest rate.   
  • Repayment terms up to 7 years.
  • Amortization terms up to 15 years.   
  • All loans are secured by a mortgage on the property being renovated.   
  • Unlimited personal guarantees are required for any owner with a 20% or greater ownership interest in the business.   

ELIGIBILITY

  • Be located within designated downtown boundaries of eligible towns, villages, and cities   
  • Demonstrate ability to repay the loan.   
  • Property taxes must be kept current.   
  • Provide acceptable design plans for building renovation.   
  • Eligible activities include:  facade renovation; exterior lighting, doors, and graphics; signage, windows, and awnings; other facade or landscape improvements.    

*Some communities within these counties may not be participating.

APPLICATION PROCEDURE

  • Review design guidelines provided by community.   
  • Complete and submit application and design plans to the primary contact at the local government unit (i.e., City/Village Hall).   
  • Application and design plans are reviewed and loan approval/denial is made by local loan committee. 

Download Facade Application: (MS-Word) (PDF)

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MICRO LOAN FUND  

SUMMARY:

The Micro Loan Fund Program provides small loans to startup, newly established, or growing small businesses.  The key objective is to assist business owners, who have traditionally had difficulty accessing debt financing, by affording them another alternative to obtain credit.

 

 FINANCE TERMS AND CONDITIONS

  • Loan sizes from $5,000 to $30,000.   
  • 4% fixed interest rate.   
  • Repayment terms up to ten years, with the exception of working capital loans which have a maximum term of three years.   
  • Collateral is required.   
  • Unlimited personal guarantees are required for any owner with a 20% or greater ownership interest in the business.
  • Approved loans are enrolled in the Capital Access Program.   

ELIGIBILITY 

  • Be located in, or propose to locate in, West Central Wisconsin (Counties of Barron, Chippewa, Clark, Dunn, Eau Claire, Polk, and St. Croix).*   
  • Business plan required.   
  • Demonstrate ability to repay the loan.   
  • Eligible activities include:  new working capital; inventory purchases and supplies; acquisition of equipment, machinery, furniture and fixtures; leasehold improvements; building renovation and rehabilitation; real estate acquisition; natural disaster recovery. 

*Some communities within these counties may not be participating.

APPLICATION PROCEDURE

Interested businesses should complete and submit applications to their local County Economic Development Corporation or directly to the West Central Wisconsin Regional Planning Commission.

Download Micro Application: (MS-Word) (PDF)

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TECHNOLOGY ENTERPRISE FUND

SUMMARY:


The Technology Enterprise Fund (TEF) is a "quasi-equity", or a patient debt, revolving loan fund that provides creative financing to new and emerging technology companies.

  • Be located in, or propose to locate in, West Central Wisconsin (Counties of:  Barron, Chippewa, Clark, Dunn, Eau Claire, Polk, and St. Croix).  
  • Be a technology specific business either processing and/or developing patentable technology or intellectual property.  
  • Have fewer than 100 FTE employees  
  • Raise at least a dollar-for-dollar (1:1) amount of private capital.  Prior investments in the form of in-kind support and/or equipment contributions may qualify as private match.  
  • Eligible activities include:  working capital used in the research and development, testing, and/or commercialization of a product, process or service; equipment and other fixed asset purchases that are essential in the research and development of an innovative technology.  

ELIGIBLE TECHNOLOGIES
Any business engaged in the activities of research, development or manufacturing of advanced products or materials for use in the technology industry.
 

FINANCING GUIDELINES

  • Loans sizes are in the $100,000 to $250,000 range.  
  • Loans are priced at an adjustable rate indexed to Prime, plus or minus an interest rate margin that is dependent on risk. The TEF may also require warrants or royalties to mitigate risk and provide for appropriate levels of upside participation. 
  • Repayment terms shall not exceed five years. Repayment options, including deferrals and interest-only periods, are negotiable. 
  • A security interest in all of the company's assets, including technology associated with or developed during the life of the loan, will usually be required as collateral.  
  • Unlimited personal guarantees are required for any owner with 20% or more ownership interest in the business. 
 
APPLICATION PROCEDURE
Interested businesses should complete and submit applications to the West Central Wisconsin Regional Planning Commission
. 

Download TEF Application: (MS-Word) (PDF)

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EDA REVOLVING LOAN FUND

SUMMARY:


The EDA Revolving Loan Fund is designed to address a gap in private capital markets for long-term, fixed rate, low down payment, low interest financing.  It was initially targeted to businesses affected, directly or indirectly, by the 1993 floods or to value added agriculture businesses located in the Counties of Barron, Chippewa, Clark, Dunn, Eau Claire, Polk and St. Croix.  The fund serves as a stimulant for commercial lending and not as a substitute for private capital.

FINANCING GUIDELINES

  • Loans sizes are in the $10,000 to $100,000 range. 
  • A minimum of one job created for every $10,000 borrowed. 
  • A minimum of $2.00 of private investment must be obtained for every $1.00 of public monies invested. 
  • 4% fixed interest rate. 
  • Deferrals of principal & interest or principal payments may be allowed. 
  • Repayment terms vary based on use of funds, but generally are no more than seven years. 
  • Collateral is required. 
  • Unlimited personal guarantees are required for any owner with 20% or more ownership interest in the business. 

APPLICATION PROCEDURE
Interested businesses complete and submit applications directly to the West Central Wisconsin Regional Planning Commission.

Download EDA Application: (MS-Word) (PDF)

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