Revolving Loan Fund
EDC Loan Program
The Eau Claire County Business Revolving Loan Fund is a flexible source of loan funds for businesses expanding or locating in Eau Claire County. The fund primarily focus on rural businesses, value-added agricultural businesses, small businesses and businesses with limited or no access to other economic development financing. The fund will participate in loans with private lenders to qualified borrowers. Direct loans may be allowed under certain circumstances.
Eligibility
Businesses must be located in Eau Claire County or propose to locate within the county, foster economic development, and demonstrate that it can repay the loan. Eligible activities include: acquisition of equipment, machinery, furniture, and fixtures, land and building acquisition, new building construction or building renovation, site improvements, and new operating capital.
Please call the Eau Claire Area EDC office prior to completing the application to determine availability of funds 715-834-0070.
Terms
Below market interest rates which may be fixed for the term of the loan. Deferrals of principal and/or interest payments may be allowed for a brief period of time. Terms can be up to five years on operating capital loans, the life of the asset on machinery and equipment, and up to ten years on real estate. Collateral is required.
Restrictions
The project must include private funds. No refinancing allowed.
For Assistance
For assistance in the application process, please contact us.