Business Tools

Local lenders that provide business and commercial lending to businesses and entrepreneurs under conventional rates and terms.  This includes commercial banks and credit unions

Resources (Lenders that Provide Conventional Business Financing):

One of the many financial tools SBA offers is its 7(a) loan guarantee program.  The program in partnership with your local lender through the use of a loan guarantee provides you access to capital when you may not otherwise qualify for conventional financing. Lenders and loan programs have unique eligibility requirements. In general, eligibility is based on what a business does to receive its income, the character of its ownership, and where the business operates. Normally, businesses must meet size standards, be able to repay, and have a sound business purpose. Even those with bad credit may qualify for startup funding. The lender will provide you with a full list of eligibility requirements for your loan.

Resources:

• Lender Match is a free online referral tool that connects small businesses with participating SBA-approved lenders. Click here to connect to local lenders participating in SBA’s 7(a) loan guarantee and 504 fixed asset lending program: www.sba.gov/funding-programs/loans/lender-match

Eligible businesses can startup and grow with working capital or funds for supplies, equipment, furniture and fixtures. Borrow from $500 to $50,000 and access free business counseling from microlenders.

Resources:

Financing intended to cover the gap between what a conventional lender is willing and able to lend and the remaining debt capital needs of the business.  Requirements are specific to each program.

Resources:

WEDC provides funding, resources and training help companies that do business in Wisconsin maximize their potential.  Obtain details from Heather Smith, Regional Economic Development Director at 608.210.6758 or heather.smith@wedc.org.

• Check out tool and programs at https://wedc.org/business-development/
• Additional state funded programs and resources at https://inwisconsin.com/

USDA Rural Development through its partnerhsip relationships with organizations such as local lenders and non profit  provides loans, loan guarantees, and grants are available to individuals, businesses, cooperatives, farmers and ranchers, public bodies, non-profit corporations, Native American Tribes, and private companies in rural communities. The financial resources of the Business Programs are often leveraged with those of other public and private credit source lenders to meet business and credit needs in under-served areas. The funding is intended to help improve the quality of life in rural communities by enhancing economic opportunities and ensuring self-sustainability for generations to come. Visit www.rd.usda.gov/programs-services/all-programs/business-programs  to learn more  about the following programs: