Funding Resources

The Heart of Wisconsin offers a Revolving Loan Fund that is designed specifically for small businesses and provides loans of $25,000 or less for new business start-ups or expansions. This loan fund is designed as a “stand alone” loan program to assist those businesses only requiring micro-loan types of lending. This Small Business Revolving Loan fund is provided through the support of U.S. Department of Agriculture - Rural Development. A revolving loan fund means that as the original funds are paid back, they are available for re-lending to other businesses in perpetuity creating new job opportunities for the area. Anyone interested in applying should contact the President/CEO at 715-422-4861 or email president@wisconsinrapidschamber.com.

In accordance with Federal civil rights law and U.S. Department of Agriculture (USDA) civil rights regulations and policies, the USDA, its Agencies, offices, and employees, and institutions participating in or administering USDA programs are prohibited from discriminating based on race, color, national origin, sex, religious creed, disability, age, political beliefs, or reprisal or retaliation for prior civil rights activity in any program or activity conducted or funded by USDA.

The purpose of the Facade Improvement Program ("The Program") is to improve the appearance of the facades, the street-facing exteriors of a building, of commercial buildings located throughout the City of Wisconsin Rapids' downtown area.

The Program seeks to improve a commercial building's facade that fronts a commercial corridor's public right-of-way. The Program works to address especially deteriorated property conditions and to generate business for downtown Wisconsin Rapids. Approved participants of The Program are eligible to receive up to 50% of total eligible expenses not to exceed $20,000.

Eligible facade improvement expenses include:

• Painting
• Lighting
• Windows
• Tile
• Awnings
• Canopies
• Signage (permanent aspects only)

Requirements for program submission for project consideration includes:

• Completed application form and accompanying documents; and
• Completed approval document from property owner indicating understanding of the terms and conditions of The Program.

For complete information and application materials: City of Wisconsin Rapids Downtown Facade Program

For more information contact: president@wisconsinrapidschamber.com

Tax Incremental Financing can help a municipality undertake a public project to stimulate beneficial development or redevelopment that would not otherwise occur. It is a mechanism for financing local economic development projects in underdeveloped and blighted areas. Taxes generated by the increased property values pay for land acquisition or needed public improvements. The City currently has two active tax incremental districts.

For more information contact Kyle Kearns, Community Development Director, City of Wisconsin Rapids, Ph: 715.421.8225

This program targets for-profit businesses in the CWED region that have a financial need associated with business start-up or expansion with an emphasis on job creation for the area. Owners must have 10% equity in the project. CWED will match new project funding provided by the owner and other sources.

Eligible Activities include:

• Acquisition of land, buildings, and fixed equipment
• Site preparation, construction, or remodeling
• Equipment financing
• Working capital
• Investment in technology, without job creation, to keep the business competitive

Ineligible Activities include:

• Refinancing
• Funding to compensate for business weakness
• Reimbursement for expenditures prior to loan approval
• Residential construction
• Routine maintenance
• Relocation within the CWED region without extenuating circumstances
• Real estate investment (less than 50% owner occupied) or speculation (flipping properties)
• Gambling activities
• Adult bookstores, entertainment, and escort services
• Lending institutions
• Rent-to-own businesses
• Businesses not serving the interest of Central Wisconsin

The local contact for this program is Kyle Kearns, Community Development Director, Ph: 715.421.8225

This program is intended for entrepreneurs who would rather prepare their business plan in a more formal setting and for those businesses that fall outside the identified Industrial Clusters. Under this program, applicants are provided with a grant to cover up to 75% of the tuition costs associated with enrolling in an approved course at their local Small Business Development Center (SBDC).

The North Central Region of Wisconsin is designated as one of the eight Technology Development zones in the state. The Region includes Adams, Forest, Langlade, Lincoln, Marathon, Oneida, Portage, Wood, and Vilas Counties. This nine county region has been titled the North Central Advantage Technology Zone and is intended to promote the development and expansion of high-technology businesses by the issuance of Wisconsin income tax credits. To see if your business qualifies for potential income tax credits, call Jason Gruenenberg (715.421.8466).

Export Loan Programs are available through the U.S. Small Business Administration (SBA) and provide exporters and lenders with a streamlined method of obtaining financing for loans and lines of credit up to $250,000. Lenders use their own credit decision process and loan documentation; exporters get access to their funds faster. SBA provides an expedited eligibility review with a response in less than 24 hours. Loans include:

• Small Business Administration Export Express
• • Provides loan funds to businesses seeking to enter the exporting market.

• Export Working Capital Program:
  • Provides loans for short-term working capital for exporters.

• International Trade Loans:
  • Loan guarantees made to companies exporting to other countries or those that have been adversely impacted by foreign competition.