LOAN PROGRAM
Startup Funds
Dedicated support for new businesses with mentorship connections and flexible terms.
Loan Range: Up to $35,000
OVERVIEW
Startup Fund Program Overview
The Startup Fund is designed specifically for businesses in their first 1-3 years of operation. With lower interest rates and built-in mentorship requirements, this program helps new ventures launch strong with both capital and guidance.
This program is ideal for entrepreneurs just getting started who need startup capital and would benefit from the support of a local economic development mentor.
Why It Works
Starting a business is challenging. The Startup Fund recognizes this by offering the most favorable terms of any CWED program—plus a mentorship connection to help you navigate those critical early years.
Key Differentiators
Lowest rates (1-3%) of any CWED program
Mentorship from local economic development partners
Designed for businesses in years 1-3
DETAILS
Startup Fund Loan Details
Loan Criteria
Requirements
Details
Loan Amount
Up to $35,000
Right-sized for startup needs
Interest Rate
1-3%
1-3% Our lowest rates—designed for startups
Bank Participation
Not Required
CWED is your direct lender
Business Age
1-3 Years
Available to businesses in first three years
Business Plan
Required
With financial projections
Mentorship
Required
Local mentor from economic development or municipal partner
Loan Term Rate
1-3%
3 years
PROGRAM USES
Eligible Uses for Startup Funds
Startup Funds can support a wide range of business investments that contribute to economic growth in Central Wisconsin.
ELIGIBLE ACTIVITIES:
Land, Buildings & Fixed Equipment
Acquire real estate or fixed assets (must occupy at least 51% of space)
Site Preparation & Construction
Board-approved preparation, construction, or reconstruction for non-speculative projects
Equipment Installation
Install fixed equipment (installation costs must be less than 10% of equipment cost)
Building Improvements
Clearance, demolition, removal, rehabilitation, or construction with board approval
Utility Assessments
Sewer, water, street, and other public utilities that support business expansion
Working Capital
Short-term operating expenses, including training and some relocation costs
Capital Investments
Reimbursement for certain expenditures made prior to loan approval (with board approval)
Disaster Recovery
Financial assistance for governor-declared natural disaster expenses
Pre-Approval Expenses
Major investments in business infrastructure and capacity
Special Projects
Other business investments reviewed on a case-by-case basis
ELIGIBILITY
Who Can Apply
Startup Funds are available to new businesses in Central Wisconsin that meet the following criteria:
Requirements:
Operating or planning to operate in one of CWED's 10 service counties
Business in first 1-3 years of operation
Business plan and financial projections prepared
Local mentor identified from economic development or municipal partner
Project supports one or more CWED fund objectives (job creation, economic growth, etc.)
INELIGIBLE ACTIVITIES & BUSINESSES
What We Don't Fund
Ineligible Activities:
Refinancing or debt consolidation
Routine maintenance
Non-essential specialized equipment
Relocation within the region without extenuating circumstances
Residential construction (unless converting to business use)
Compensation for business weakness or poor credit history
Non-business expenses
Ineligible Businesses:
Gambling operations
Rent-to-own businesses
Nightclubs and bars without food service
Lending institutions
Adult entertainment or bookstores
HOW TO APPLY
Application Process
1. Contact CWED to discuss your project
2. Submit application and required documents
3. Application review and board consideration
4. Approval and loan closing
Let's discuss your project
Get started NowREQUIRED DOCUMENTS
What You’ll Need
Typical Documents
Business plan
Financial statements
Tax returns
Project budget
Bank commitment letter
Personal financial statement
SUCCESS STORY
From Dream to Reality: Launching a New Business in Central Wisconsin
"CWED provided knowledgeable information and resources to assist in the process of starting our business and receiving an approval. They supported our dream and gave us the chance we never thought we would have received. The resources they provided helped us learn and prepare for what our business needs were and what our success goals should be over the first couple years of operating. Thank you CWED for all of your help and support"
Michael & Megan Stallworth
American Integrity Underground, LLC
Let’s Build Stronger Communities Together
Connect with CWED to explore funding opportunities that support growth, jobs, and lasting impact across Central Wisconsin.