Areas Served: Barron, Chippewa, Clark, Dunn, Eau Claire, Polk, and St. Croix Counties
The Micro Loan Fund Program provides small loans to Wisconsin 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.
Eligibility – Be located in, or propose to locate in, West Central Wisconsin (Counties of Barron, Chippewa, Clark, Dunn, Eau Claire, Polk, and St. Croix).
* – Have annual sales less than $1 million AND have 25 or fewer employees.
– 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.
Loan Overview – Loan size can range from $5,000 to $25,000. – 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 greater than 20% ownership interest in the business.
Contact InformationRegional Business Fund, Inc.
Address: 800 Wisconsin Street
City: Eau Claire
State: Wisconsin
Website:
http://www.rbfinc.org
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