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Low-interest working capital business loans available in west central Wisconsin

West Central Wisconsin Regional Planning Commission (WCWRPC) has received a $500,000 award from the Economic Development Administration (EDA) to establish the EDA CARES Act Recovery Assistance Revolving Loan Fund (RLF). The EDA Cares Act RLF will assist small businesses located in Barron, Chippewa, Clark, Dunn, Eau Claire, Polk, and St. Croix counties. To be eligible a business must be located in one of the aforementioned counties; employ less than ten (10) full-time equivalent (FTE) employees; and operate within one of the following industry sectors: manufacturing (NAICS 31-33); retail trade (NAICS 44-45); health care and social assistance (NAICS 62); arts, entertainment, and recreation (NAICS 72); or other services (NAICS 81). Available funds will be utilized for working capital loans between $5,000 and $10,000 with a 7-year repayment term and a stepped interest rate of 1% for the first two years followed by 2% for the remaining term. Deferrals of principal and/or interest will be allowed for up to twelve months. Eligible, interested businesses should visit www.rbfinc.org/cares-act-rlf to download the application. If you are a business in need of assistance and the EDA CARES Act RLF does not meet your needs, please see www.rbfinc.org/programs for other available business loan programs.

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