Areas Served: Barron, Chippewa, Clark, Dunn, Eau Claire, Polk, and St. Croix Counties
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 Wisconsin 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.
ase.
Loan Overview – 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.
Contact InformationRegional Business Fund, Inc.
Address: 800 Wisconsin Street
City: Eau Claire
State: Wisconsin
Website:
http://www.rbfinc.org
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