High Tech Loan Pool

The Eau Claire Area Technology Loan Pool was created to foster economic growth and technology development in the Eau Claire area. The loan pool is a form of non-traditional financing for high-tech companies. This loan pool provides loans that cannot be secured elsewhere because of the lack of collateral. The loans will be at a reasonable interest rate and the funds may be used as equity to leverage other loans.

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Eligibility

Technology companies whose principal company business is engaging in research, development, computer software, computer hardware, bio technology, optics or plastics. The technology company will have proprietary products/services and may have intellectual property. A qualified borrower must have its principal business operation located in either or both the City of Eau Claire and County of Eau Claire , Wisconsin . Businesses who are developing or currently possess proprietary products and/or services and who possess or will possess intellectual property shall be preferred borrowers. A loan made to a qualified borrower shall be upon terms and conditions as determined by the Loan Pool Committee.

Loan Approval Process

The loans will be approved or denied by a loan committee comprised of: (4 Positions) Financial Lenders, Eau Claire County Chairperson of the IDA, Gateway Industrial Park Corporation (1 Position), and a non-voting technology consultant. The maximum loan amount would be $250,000 and the minimum would be $50,000 per business.

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