The City of Eau Claire, Wisconsin offers several assistance programs for businesses that can complement or fill the gap in programs that are available through financial institutions to help get them off the ground, expand operations, create new job opportunities, and improve commercial spaces. The following list of programs is available to business and property owners. To apply or request additional information, contact our division.
The City of Eau Claire Commercial Building Façade Loan Program offers low-interest loans to help property owners improve the appearance and vitality of downtown and nearby business districts.
Eligibility: Any property owners, businesses, and tenants located within city limits and in commercial zones or the central business district
Loan Amounts: $5K-$30K
Interest Rate: 0%
The City of Eau Claire Micro Loan Fund provides small loans to early-stage or expanding businesses to improve credit access, support growth, and promote inclusive economic development.
Eligibility: Any manufacturing or service business, excluding restaurants, located within city limits that has been in business for 3 years or less
Loan Amounts: $5K-$30K
Interest Rate: 4%
The City of Eau Claire Low Barrier Loan Fund offers accessible financing with fewer requirements to help startups and underserved businesses access financing with fewer entry requirements.
Eligibility: Any manufacturing or service business, including restaurants, located within city limits that has been in business for 3 years or less
Loan Amounts: $5K-$25K
Interest Rate: 4%
The City of Eau Claire Revolving Loan Program provides financing to support commercial and industrial business growth, job creation, and a diverse, thriving local economy.
Eligibility: Any manufacturing or service business, excluding restaurants, located within city limits that has been in business for at least 3 years
Loan Amounts: $10K-$100K
Interest Rate: 4%
The City of Eau Claire EDA Revolving Loan Program provides larger loans to commercial and industrial businesses to create high-wage jobs, support startups, and strengthen the city’s economic base.
Eligibility: Any manufacturing or service business, including restaurants, located within city limits
Loan Amounts: $10K-$150K
Interest Rate: 4% (or May Vary)
Follow these steps to apply for the financing options offered by the City of Eau Claire.
Determine Eligibility
To begin the application process, reach out to our division via email or phone call. Our team will help you review the guidelines for each loan program to find the right financing option for your business and will make recommendations depending on factors such as your income, collateral, business type, and intended use of the loan funds.
Complete an Application
When a loan program has been selected, our team will provide the application and next steps. Carefully fill out all sections of the form, gather all necessary documentation listed on the checklist included in the application, and submit all of your materials via email or in person. We will then review all of the materials you provided to ensure they’re complete.
Present to the Loan Board
Once your application is ready, we will invite you to present before the Loan Board. At this meeting, board members will review your application and ask questions so they understand the intended use of the loan funds. They will then deliberate and deliver a decision by the end of the meeting or request more time.
Sign Loan Documents
If your loan is approved, the Finance Department will extend a final offer outlining the interest rate, terms, and conditions of the agreement. Read these documents carefully and ask any questions you have before signing. Then sign and return them to the Finance Department.
Receive Funds
Once the loan documents have been signed, you will receive the loan funds as outlined in the agreement, usually within 1-2 months. Be sure to only use the funds for their intended purpose and adhere to the repayment schedule so you can maintain a positive credit history and avoid any potential penalties or fees.
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