Loan Programs

Economic Diversification Loan (EDL) Program:

Provides low interest loans to existing businesses interested in establishing or expanding operations in Wisconsin. Applicants must provide a comprehensive business plan that describes the proposed project. Applicant can receive up to 75% of eligible costs.

The actual award is based upon the project’s viability, the number of jobs created or retained, and the extent to which the project will help diversity the local economy. For more information, visit:


Industrial Revenue Bonds (IRB):

This program allows businesses to borrow money for capital outlays at a reduced interest rate. The Department of Commerce’s Industrial Revenue Bond (IRB) Program allows all Wisconsin cities, villages and towns to support industrial development through the sale of tax-exempt bonds. The proceeds from the bond sale are loaned to businesses to finance capital investment projects at, primarily, manufacturing facilities.

Even though IRBs are municipal bonds, they are not general obligations of the municipality. The company or business that will use the facilities provides the interest and principal payments on the loan. The local government is in partnership with the business, lending its name, but not its credit, to the bond issue. For more information, visit:


Kewaunee County Revolving Loan Fund:

This program provides low interest loans to businesses located in Kewaunee County for land acquisition, building acquisition, equipment purchase, site prep/construction, demolition and clearance, and working capital. This program is based on job retention and creation.

It offers a dollar for dollar match on financing for eligible projects; the range of loan amounts is between $5,000 and $50,000 and is based on job creation and retention.


Land Recycling Loans:

Provides financing to local governments with 0% loans for up to 20 years that may be used at landfills and other brownfield sites. For more information visit:

Local Lenders:

Local banks can assist businesses with various loan vehicles.


Recycling Loan Program:

Awards loans for the purchase of equipment that make products from recycled materials, or make equipment necessary to manufacture these products.


Recycling Technology Assistance Program:

Provides low cost loans to fund research and development of products or processes using recovered or recyclable materials. Eligible activities include product development and testing, process development and assessment, specialized research, and technical assistance.


Rural Economic Development Microloan Program:

Provides loans for almost any purpose to small businesses and cooperatives in rural areas. Eligible activities include construction and expansion, working capitol acquisition and existing businesses, land buildings and equipment.


WHEDA Small Business Guarantee Loan:

Provides loan guarantees to local lenders for small business financing which can be used for expenses for land, buildings, equipment and inventory associated with the expansion or acquisition of a small business (50 or less full-time employees). The guarantee is limited to 80% or $200,000. This program can finance a mixed-use project if the business occupies at least half of the building. This program can also be used to start a daycare business including cooperative ownership or nonprofit status. For more information, visit:


Small Business Administration 504 Loan Program:

Offered through Certified Development Corporations, this program provides long-term, fixed-rate financing to small businesses for land, buildings, fixed equipment, and renovations. The maximum loan is $1,000,000. For more information, visit:

Small Business Administration 7a Loan Program:

Through this program, the SBA guarantees a loan provided to a business by a commercial bank. Maximum loan size is $2,000,000. Loan proceeds can be used for most sound business purposes including working capital, machinery and equipment, furniture and fixtures, land and building, leasehold improvements, and debt refinancing. For more information, visit:

Small Business Administration CAPLoan:

SBA guaranteed loans that provide short-term financing and lines of credit to small businesses.


Small Business Administration Microloan Program:

The Microloan program provides loans up to $50,000 to help small businesses and certain not-for-profit childcare centers start up and expand. The average microloan is about $13,000. The funds can be used for working capital or the purchase of inventory, supplies, furniture, fixtures, machinery and/or equipment. Proceeds cannot be used to pay existing debts or to purchase real estate.

The SBA makes or guarantees a loan to an intermediary, who in turn, makes the microloan to the applicant. These organizations also provide management and technical assistance. The loans are not guaranteed by the SBA. For more information, visit:


Small Business Administration SBA Express Loan Program:

Provides streamlined process for business to receive loans of $350,000 or less for start-up costs or expansion. Loans can be used for a revolving line of credit. For more information, visit: