Business Loans
NEWEDC Micro Loan Opportunities
Empower Your Venture with non-traditional Financial Support
NEWEDC Micro Loan Opportunities
NEWEDC Micro Loan Policy to fuel local business growth and economic development.
Unlocking Business Potential with Tailored Loan Solutions
Unlocking Business Potential in Oneida County with Updated Micro Loan Policy
In the heart of Oneida County, where economic regeneration and business growth are at the forefront of our mission, we're excited to share pivotal updates to the Northeast Wisconsin Revolving Loan Fund – Micro Loan Policy. This thoughtful revision aims to propel businesses forward, reflecting our commitment to the safety of principal investment, prioritizing ventures that promise economic uplift, and addressing our community's diverse financial needs with precision and care.
Loans now range from $5,000 to $35,000. With our NEWEDC RLF new opportunities for business owners to fuel short-term cash flow needs, strategically excluding real estate or significant fixed asset purchases to ensure focused, impactful support. We're setting a new precedent for accessible, growth-oriented financial assistance. Loans are structured with a 1 to 3-year tenure, bearing an interest rate of the WSJ Prime Rate plus 3%. Situational collateral demands ensure that our approach remains as adaptable as the entrepreneurs we serve, promising a tailored fit for each business's unique journey.
In the heart of Oneida County, where economic regeneration and business growth are at the forefront of our mission, we're excited to share pivotal updates to the Northeast Wisconsin Revolving Loan Fund – Micro Loan Policy. This thoughtful revision aims to propel businesses forward, reflecting our commitment to the safety of principal investment, prioritizing ventures that promise economic uplift, and addressing our community's diverse financial needs with precision and care.
Loans now range from $5,000 to $35,000. With our NEWEDC RLF new opportunities for business owners to fuel short-term cash flow needs, strategically excluding real estate or significant fixed asset purchases to ensure focused, impactful support. We're setting a new precedent for accessible, growth-oriented financial assistance. Loans are structured with a 1 to 3-year tenure, bearing an interest rate of the WSJ Prime Rate plus 3%. Situational collateral demands ensure that our approach remains as adaptable as the entrepreneurs we serve, promising a tailored fit for each business's unique journey.
Eligibility Criteria Designed for Success
Understanding that a thriving business ecosystem is built on strong foundations, we've delineated clear guidelines for applicants. Eligible entities are for-profit businesses outside the lending and gambling arenas, with a requirement for the loan to be business-focused rather than personal. Applicants are expected to exhibit commendable character, a clean financial slate, and readiness to engage with business mentor programs like SCORE. A comprehensive business plan, alongside necessary corporate documentation, underscores our evaluation process, ensuring each venture is poised for success. Proposals undergo thorough review by the NEWEDC Loan Committee, President, and Executive Director, ensuring that each loan not only meets our stringent criteria but also aligns with our vision for Oneida County's vibrant economic future. This redefined policy, prioritizing efficiency and clarity, supersedes any previous directives in conflict.
Understanding that a thriving business ecosystem is built on strong foundations, we've delineated clear guidelines for applicants. Eligible entities are for-profit businesses outside the lending and gambling arenas, with a requirement for the loan to be business-focused rather than personal. Applicants are expected to exhibit commendable character, a clean financial slate, and readiness to engage with business mentor programs like SCORE. A comprehensive business plan, alongside necessary corporate documentation, underscores our evaluation process, ensuring each venture is poised for success. Proposals undergo thorough review by the NEWEDC Loan Committee, President, and Executive Director, ensuring that each loan not only meets our stringent criteria but also aligns with our vision for Oneida County's vibrant economic future. This redefined policy, prioritizing efficiency and clarity, supersedes any previous directives in conflict.
Your business journey is unique, and so should be the financial support you receive. If you're a business owner in Oneida County, keen to explore how these policy updates can benefit your venture, we encourage you to reach out. The Oneida County EDC team is eager to guide you through our loan options, ensuring your plans are met with the resources they deserve. Dive into the possibilities today, and let us be your partner in growth and success.
Contact us at [email protected] or give us a call at 715-369-9110, to set up a consultation call.
Contact us at [email protected] or give us a call at 715-369-9110, to set up a consultation call.
