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$120,000 Technology Loan Awarded to Local Company

Posted by Christina on November 26th, 2013

This fall, the Wisconsin Economic Development Corporation (WEDC) announced that Coating Tech Slot Dies, an Eau Claire company, was approved for a $160,000 Technology Business Development Investment Loan.  This type of loan is for Wisconsin companies to facilitate research and development and commercialization of innovative technology products. The program is an important tool to help new companies advance new and innovative ideas. The EDC supported the company by completing the financing applications and by providing assistance in the development of a financial strategy.

Coating Tech Slot Dies also received a loan from the Regional Business Fund for $120,000.  IN addition, the EDC provided further support by hosting an event where the company presented to potential investors.  Further, the EDC assisted with selecting a facility location for the company’s operation.

Coating Tech Slot Dies manufactures customized, high precision slot die coating systems for fluid coating operations. The company will also operate as an incubator site for startup companies that need to produce products but cannot wait for the manufacturing cycle of an original equipment manufacturer.