Near-Equity FundAdd to Report
The Near Equity Fund program assists companies that are scaling from a start-up or early-stage to an established organization. During this emerging growth stage, revenues are often not sufficient to support cash flow needs. This program traditionally assists small business with annual revenues under $1 million and was designed to provide the liquidity needed through the transition phase of becoming a strong business. The ultimate goal is to create strong businesses leading to economic prosperity for area residents.
- Company must operate within the City of Eau Claire or Eau Claire County until the loan is fully repaid.
- Company will create new jobs for area residents.
- Company has reached the revenue stage but still has a negative cash flow.
- Applicants will have equity investment of a minimum of 2 times the amount requested from the Fund.
Interested applicants must meet with the Executive Director of the Eau Claire Area Economic Development Corporation (EDC), to determine if their company is eligible. All application material will be submitted to the EDC.
The Near Equity Loan Committee consists of all investing organizations and a technical advisory group of regional experts in science, technology, intellectual property, commercialization and investment.
- Maximum participation loan amount: $250,000>
- Minimum participation loan amount: $100,000
- Interest rate paid by business: Prime, +2% to +4%
- Loan Term: 42 months
This fund made possible thanks to the following organizations:
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