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Explore these other financing options offered to businesses by both the City of Eau Claire and area partners.
This financial arrangement through the City of Eau Claire encourages the creation of new jobs in Gateway Business Parks. Funds may be used to cover expenses related to fixed assets, capital equipment purchases, land and facility purchases, remodeling, and rehabilitation. Subject to city council approval.
Eligible Recipients: All manufacturers located in the Gateway Northwest Business Park or Gateway West Business Park.
Terms: $1,000 Credit Per $100,000 Building Valuation / $1,000 Credit Per Each Job Created
This financial arrangement through the City of Eau Claire aids in the construction, enlargement, or procurement of equipment at industrial plants and other facilities. Bonds are issued by the city on behalf of the applicant in partnership with the industry and may be used for building, equipment purchases, and labor costs but not working capital.
Eligible Recipients: Any manufacturing business or operator of sewage, solid waste, transit, or dock/wharf facilities located in the city.
This financial arrangement offered by area investors supports the economic growth of start-ups. An angel investor network is a group of high-net-worth individuals who collectively invest their personal funds in early-stage or startup companies in exchange for equity ownership. These individuals, known as angel investors, typically have entrepreneurial backgrounds and are willing to take on higher risks in exchange for potentially high returns on their investments.
Eligible Recipients: Any manufacturing, commercial, or service business, excluding restaurants, located in the city.
Terms: Equity financing, typically in the $500,000 range.
This financial arrangement promotes the creation and retention of jobs. Funds are distributed per job up to a maximum of $150,000 and may be used for permanent working capital, inventory purchases and supplies, acquisition of equipment, machinery, furniture and fixtures, leasehold improvements, building renovation and rehabilitation, and real estate acquisition.
Eligible Recipients: Any manufacturing, commercial, service business, or creative economy business, excluding restaurants, located in the city, as well as businesses targeted by the city. Eau Claire County is participating in this statewide program that enables property owners to obtain low-cost, long-term financing for energy efficiency, renewable energy, and water conservation building improvements. It allows private sector lenders to provide upfront financing (usually for 100 percent of the cost of energy-saving improvements) to property owners for qualified projects. A wide range of property types and improvement projects are eligible. See here for eligibility.
Terms: The term should not exceed the expected life of the proposed improvements as described in the required Energy Assessment. For projects that include multiple improvements, the weighted average useful life of the new equipment must equal or exceed the term of the PACE Financing. Depending on the equipment installed PACE Financing terms are often made for up to 20 years long. See here for property owner FAQ.
Some areas of Eau Claire have been designated as HUBZones. To view a map of our HUBZone locations and information on becoming a certified HUBZone business, visit sba.gov/hubzone.
Eligibility: A small business must meet all of the following criteria to qualify for the HUBZone program:
Advantage:
Application: Fill out an application online at sba.gov/hubzone.
The West Central Wisconsin Regional Planning Commission (WCWRPC) is the regional administrator of this Wisconsin Economic Development Corporation program. The Disaster Recovery Microloan Program works to provide short-term financial assistance to businesses affected by a natural or manmade disaster event.
Loans are up to $15,000 at a 0% fixed rate up to 24 months.
The Regional Business Fund, Inc. (RBF) offers this “quasi-equity”, or a patient debt, revolving loan fund that provides creative financing to new and emerging technology companies.
Eligibility: Any business engaged in the activities of research, development, or manufacturing of advanced products or materials for use in the technology industry. See their Technology Enterprise Fund webpage for more information on eligibility, financing terms & conditions.