Entrepreneur and New Business Incentives and Programs

Revolving Loan Funds
There are three Revolving Loan Fund Programs in Washington County:

  • County fund administered by EDWC
  • City of West Bend
  • City of Hartford

The EDWC RLF is available to existing Washington County business and to firms relocating to the county. Loans up to $100,000 and very low rates are available. More information is available here (PDF format).

Information on the West Bend program: capellej@ci.west-bend.wi.us
Information on the Hartford program: gkoppelberger@ci.hartford.wi.us

PROFESSIONAL COUNSELING

SCORE - “Counselors to America’s Small Business” is a nonprofit association dedicated to providing entrepreneurs with free, confidential, face-to-face and email business counseling.

  • Milwaukee Office: Small Business Administration Office, 310 W. Wisconsin Ave. #425, Milwaukee, WI 53203, Phone (414) 297-3942
  • Washington County Office: University of Wisconsin-West Bend, 400 University Dr, West Bend, WI, 5309 Phone (262) 335-5218; Sessions offered the 2nd Tuesday and 4th Tuesday of the month - appointments are typically scheduled at 9:00 a.m., 10:00 a.m., 11:00 a.m., 1:00 p.m., and 2:00 p.m.

SMALL BUSINESS DEVELOPMENT CENTERS (SBDC) - The Wisconsin Small Business Development Center (SBDC) exists to serve the people of the State of Wisconsin. The SBDC does this by ensuring the state’s economic health and stability through formative business education, counseling, technology and information transfer, and instruction.

DEPT. OF COMMERCE PROGRAMS

  • The Enterprise Development Zone (EDZ) Program provides site specific tax incentives to new or expanding businesses whose projects will affect distressed areas.
  • The Technology Development Fund (TDF) program helps Wisconsin businesses research and develop technological innovations that have the potential to provide significant economic benefit to the state.
  • The Technology Development Loan (TDL) program helps Wisconsin businesses develop technological innovations that have the potential to provide significant economic benefit to the state. This program is designed to help businesses commercialize new technology.

ADDITIONAL BUSINESS FINANCE PROGRAMS

  • The Wisconsin CAPCO Program is intended to increase investment of venture capital funds into small business enterprises which have traditionally had difficulty in attracting institutional venture capital.
  • The Technology Zone Program provides tax incentives to new or expanding businesses involved in Wisconsin’s high-technology sectors. The Southeast area zone is administered by the Southeast Wisconsin Regional Planning Commission (SEWRPC) and information is located at choosemilwaukee.com.

WEN PROGRAMS

  • The Early Planning Grant (EPG) program helps individual entrepreneurs and small businesses throughout Wisconsin obtain the professional services necessary to evaluate the feasibility of a proposed start up or expansion.
  • Under the Entrepreneurial Training Program (ETP), Commerce can provide applicants with a grant to help cover a portion of the cost of attending Small Business Development Center’s (SBDC) new Entrepreneurial Training Course.

Wisconsin Housing and Economic Development Authority (WHEDA) Programs

  • The Housing and Economic Development Authority (WHEDA) Small Business Guarantee (WSBG) can be used for expenses of 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 day care business including cooperative ownership or nonprofit status. Contact WHEDA at 1-800-334-6873.
  • The Linked Deposit Loan (LiDL) Subsidy is administered by Wisconsin Housing and Economic Development Authority (WHEDA). This program offers women and minority owned and operated businesses a two-year interest rate subsidy on the portion of a new bank loan of $10,000 to $99,000 that covers land, building and equipment. Contact WHEDA at 1-800-334-6873.
  • The Minority Business Development Fund offers low-interest loans for start-up, expansion or acquisition projects. To qualify for the fund, a business must be 51-percent controlled, owned, and actively managed by minority-group members, and the project must retain or increase employment.

OTHER

  • The U.S. Small Business Administration (SBA) provides loan guarantees that are used in conjunction with bank financing to improve loan terms. The SBA can provide information on authorized micro-lenders that make loans of $25,000 or less, small business investment companies and certified development corporations that make fixed-rate, long-term loans for the acquisition of business assets. The SBA offers simplified application loan guarantee programs called SBA Low Doc and SBA Express to small businesses. Loans under these programs must be $150,000 or less. Contact the Madison office at 608/441-5263, or the Milwaukee office at 414/297-3941.
  • The Small Business Innovative Research (SBIR) and Small Business Technology Transfer (STTR) programs are highly competitive federal programs that provide financial assistance to small businesses engaged in new product development utilizing innovative technologies.
  • The Wisconsin Women’s Business Initiative Corporation (WWBIC) offers micro loans to businesses owned by women, minorities, and low-income individuals. WWBIC also offers training and technical assistance. Call 414/263-5450 in Milwaukee, or 608/257-5450 in Madison.