Since its establishment, the Chippewa Economic Development Corporation (CEDC) has continually sought innovative ways to support local businesses and stimulate economic growth. A significant milestone came in 2005 when CEDC spearheaded efforts to create a regional Revolving Loan Fund (RLF). This initiative consolidated various local loan funds—many originally seeded by federal dollars—into one robust pool of resources known as RBF, Inc.
Empowering Small Businesses
Since 2006, a dedicated committee of CEDC board members has been reviewing and recommending applications for the Chippewa RLF, and since 2007, for the RBF, Inc. Chippewa County loans as well. Today, these funds stand as powerful tools for nurturing our local economy. By providing essential financial resources to startups and small businesses, these RLFs foster a sustainable cycle of support that transforms our communities.
Revolving Loan Funds act as catalysts for economic growth and job creation. By empowering small businesses—the backbone of Chippewa County—these RLFs make it easier for entrepreneurs to access the capital they need for expansion and hiring. For many, traditional financing can be difficult to secure due to strict lending criteria. Our local RLFs bridge this gap by offering flexible, accessible lending terms that help entrepreneurs pursue their dreams and strengthen the culture of innovation and resilience that defines our region.
Broader Community Benefits
The positive impact of RLFs extends beyond individual businesses. These funds support community development by enhancing infrastructure, expanding local services, and improving the overall quality of life for residents. A vibrant small business landscape leads to a thriving community—one where people want to live, work, and invest.
The true beauty of the Revolving Loan Funds lies in their sustainability. Once a loan is repaid, that capital is re-lent to new borrowers, creating a continuous cycle of financial support that maximizes the impact of every dollar invested.
Driving Innovation and Diversification
CEDC recognizes that RLFs also empower innovation by funding new and creative business ventures. These investments foster technological advancements, diversification, and long-term economic resilience. By supporting multiple small business projects rather than concentrating funds into one large investment, the CEDC helps spread financial risk and strengthen the stability of our regional economy.
Honoring Our Collaborative Team
The success of the Revolving Loan Fund programs would not be possible without the combined dedication, expertise, and volunteer spirit of our CEDC board members and our partners at Regional Business Fund, Inc. Together, they ensure that funds are managed responsibly and directed where they can make the greatest impact.
We extend our deepest gratitude to the members of the CEDC Revolving Loan Fund Committee: Ryan Hartzell, Jamey Stueber, Maureen Carlson, Melissa Peterson, Chad Oster, Deb Chilson, and Jacob Bauer. Their responsibilities include reviewing and evaluating loan applications from local businesses, recommending projects for funding based on community and economic benefit, monitoring loan performance and program outcomes, and ensuring funds are reinvested locally to sustain long-term growth.
We also wish to sincerely thank the staff of Regional Business Fund, Inc.—Tobi Lemahieu, Amanda Veith, and Jennifer Brixen—for their invaluable work as part of our entrepreneur ecosystem development team by providing professional program administration, guide businesses through the loan process, manage loan documentation and servicing. They support CEDC Revolving Loan Fund Committee with expertise and data that help drive sound lending decisions. Together, the CEDC committee members and Regional Business Fund, Inc. staff form a strong partnership that helps local entrepreneurs access the resources they need to grow, create jobs, and strengthen our regional economy.
Looking Ahead
Join us in thanking and celebrating these individuals and partners for their contributions to the continued success of Chippewa County’s Revolving Loan Funds. Together, we can keep building a resilient, innovative, and thriving local economy that benefits businesses and residents alike.