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CCEDC has the expertise, programs and support network to help you succeed.  We can work with you to find loans that may be available to assist with working capital, equipment purchases, and training costs. 

Wisconsin is creating policies that advance emerging industries and allow businesses to thrive. From $2 billion in tax relief, to tort reform that improves the litigation climate, all in the attempt to reduce the fiscal burden of Wisconsin companies. Thus, allowing your focus to be on expanding revenues and reinvesting in your businesses growth. Wisconsin’s fiscal responsibility and business-friendly tax policies give business owners confidence. Wisconsin’s regulatory environment is suited to create and retain jobs, 95% of employers in the state believe it is headed in the right direction.* 

*Source: Wisconsin Manufacturer’s and Commerce, WMC Economic Outlook Survey, 2014 

WISCONSIN INCENTIVES TO PROMOTE RELOCATION AND EXPANSION 

Wisconsin has a wide range of state tax incentives to encourage business growth and job creation. Wisconsin offers tax credits and exemptions on sales and property tax for qualifying manufacturing and agricultural businesses. Wisconsin also provides incentives for businesses planning to move to and hire workers in Wisconsin. For those looking to invest in Wisconsin companies, capital gains and early stage investment incentives are available.

If you’re looking for highly skilled employees, Wisconsin has devoted resources to workforce development programs ~ if you’re in manufacturing or agriculture, through Wisconsin programs you may be able to dramatically reduce your tax burden ~ if growing your business is a top priority, here are some solutions that are designed with your needs in mind:

Click here for a fact sheet WI vs MN 

To learn more about solutions that can help you grow your business in Chippewa County contact the CCEDC office. 

LOCAL INCENTIVES THAT PROMOTE RELOCATION AND EXPANSION 

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 size of $25,000+.  
  • 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 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 greater than 20% ownership interest in the business.  

ELIGIBILITY

  • Be located in, or propose to locate in Chippewa County.
  • 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 the County may not be participating.

APPLICATION PROCEDURE:  Interested businesses inquire with CCEDC to get information on completing and submitting program applications. 

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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 Chippewa County.
  • 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 prices 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 inquire with CCEDC to get information on completing and submitting program applications. 

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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 Chippewa County.  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 inquire with CCEDC to get information on completing and submitting program applications.

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