Capital Equipment Loan
EDC Financial Program
Capital Equipment loan program will be used to provide short-term low interest loans to existing Eau Claire County businesses that purchase capital equipment and create jobs.
Eligibility
Must be an existing for profit manufacturing or service provider related to the manufacturing industry. Company must be located in Eau Claire County or the part of the City of Eau Claire located in Chippewa County.
Please call the Eau Claire Area EDC office prior to completing the application to determine availability of funds 715-834-0070.
Advantage
This loan program is used to help expanding business purchase capital equipment. Interest rates will be below market and will be set by the committee.
Terms
All loans will be for five years or the life of the equipment, whichever is less. At least one job should be created for each $10,000 that is loaned from the fund. No loan may exceed 60% of the assets of the fund at the time of the loan. All loans will be administered by a local financial institution.
For Assistance
For assistance in the application process, please contact us.