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On July 14, 2020, St. Croix County in partnership with the West Central Wisconsin Regional Planning Commission and St. Croix Economic Development Corporation (EDC) launched the COVID-19 Small Business Loan Program. This new loan program was created to help businesses in the county that are experiencing unanticipated financial pressures due to the COVID-19 pandemic.
The county has allocated $500,000 to fund the loan program. Eligible businesses can request up to $10,000 at 0% interest with no payments for at least one year.The West Central Wisconsin Regional Planning Commission and St. Croix EDC will review applications and administer approved loans. Businesses can use the money can use to help with:
- Commercial Utilities
- Pre-existing purchase orders (placed prior to 6/15/2020)
- Payroll expenses
- Modifications and/or upgrades related to adjusting business practices due to COVID-19
“St. Croix County’s COVID-19 Small Business Loan Program comes at a critical time,” said Bill Rubin, Executive Director of St. Croix EDC. “From Main Streets to industrial parks, small business owners have been adversely impacted by this global pandemic. This loan program gives businesses a new local option to help them through these difficult times.”
Loan applications are being accepted from July 14 through September 10, 2020. To apply for the loan, businesses must have a physical location in St. Croix County, have been adversely impacted by COVID-19, and are current on property taxes and special assessments. Applications are processed on a first come, first served basis, subject to completeness. The application and information on how to apply are available on the St. Croix County website.