Need a good reason to start a business in Wisconsin? How about this one: it has a fantastic business survival rate—43 percent of small businesses are still operating after a decade! If you’re a lucky Wisconsin business owner—or you’re thinking of becoming one—take a look at these funding options. These grants and loans are only available for Wisconsin-based businesses. Take a peek.
Department or Agency: Wisconsin Economic Development Corporation
Loan or Grant title: Business Development Loan Program
The Business Development Loan Program aids key Wisconsin industries close the funding gap needed to expand, gain efficiency, and be more competitive. Businesses in eligible sectors with fewer than 500 employees and operating for over 12 months are encouraged to apply. Loan amounts vary from $100,000 to $250,000 for a term of up to 72 months, though longer terms are available. Eligible activities include real estate, equipment, working capital, and leasehold improvements. See the guidelines for more information.
Department or Agency: Wisconsin Economic Development Corporation
Loan or Grant title: Entrepreneurial Micro-Grant Program
The Entrepreneurial Micro-Grant Program offers small planning and technical assistance grants to small businesses and entrepreneurs in Wisconsin. Through the Center for Commercialization, the Wisconsin Economic Development Corporation provides three distinct programs:
- Up to $4,500 to assist in preparing Small Businesses Innovation Research (SBIR) or Small Business Technology Transfer (STTR) grants
- Up to $4,500 for business validation, market research, or business plan preparation
- Up to $750 for an Entrepreneurial Training Program within the University of Wisconsin system.
See the program guidelines for complete information.
Department or Agency: State of Wisconsin Department of Workforce Development
Loan or Grant title: Wisconsin Fast Forward Grants
Fast Forward Grants is an annual program that supports businesses by reimbursing training costs for customized, occupational training of unemployed, underemployed, or incumbent workers. Grants typically range from $5,000 to $400,000 per grantee, and a 50% cash or in-kind match is required. See the website for full information and to see when the next grant cycle opens.
Department or Agency: Wisconsin Women’s Business Initiative Corporation (WWBIC)
Loan or Grant title: WWBIC Business Lending
WWBIC is Wisconsin’s largest microlender and economic development corporation. It focuses on serving Wisconsin startups and small businesses that find it difficult to gain access to capital. Loans typically range from $1,000 to $100,000, but they can be as large as $350,000. Eligible uses include machinery, equipment, inventory, furniture, supplies, and working capital. See the webpage with frequently asked questions for more information.
Department or Agency: Wisconsin Economic Development Corporation
Loan or Grant title: Technology Development Loans
Technology Development Loans are geared toward organizations that have evolving needs as they move through their development cycle. Successful candidates are innovative companies with strong growth potential, looking to navigate challenges as they bring new technologies, products, and concepts to market. Financing is limited to 20% or less of a given project’s funding cycle, with the balance of funding required to be on hand before loan disbursement. Loan terms are typically 5–7 years, at a fixed interest rate of 6%. See the program guidelines for more information.
Department or Agency: Wisconsin Economic Development Corporation
Loan or Grant title: Entrepreneurial Training Program
The Wisconsin Economic Development Corporation is partnering to offer Entrepreneurial Training Program reimbursement of up to 75% of the $1,000 course fee. The course is designed to help early-stage startups vet their ideas and learn how to develop an investment-ready business plan. Grant recipients must comply with requirements that include attendance standards and the completion of a business plan within six months of beginning the program.
Department or Agency: Wisconsin Department of Agriculture
Loan or Grant title: Dairy Processor Grants
Dairy Processor Grants are designed to preserve the long-term health and viability of Wisconsin dairy farmers. Applicants must run a licensed dairy processing operation that pasteurizes, processes, or manufactures milk or dairy products. It’s a competitive grant process, with award winners receiving up to $50,000 per processor per year. A 20% match is required of businesses that receive grants.
