MBDL Micro Business Development Loans
CONTACT
Kelly Hess
MBDL Manager
(608) 254-8353 ext. 234
kelly@cwcac.org
Micro Loan Fund
The Micro Loan Fund Program provides small loans to start-up, newly established, or growing qualified applicants or small businesses. The key objective is to assist business owners, who have traditionally had difficulty accessing debt financing, by affording them another alternative to obtain credit. The rate is fixed at 5% and the loan amount can be between $1,000 and $10,000. This loan must be secured by 100% collateral.
Eligibility
- Be located in, or propose to locate in, South Central Wisconsin (Counties of Adams, Columbia, Dodge, Juneau or Sauk).
- Create and/or retain a minimum of one job per $10,000 loan (outside of owner).
- Demonstrate ability to repay the loan.
- Appear to the Loan Committee meeting to answer questions concerning the loan and about the need of the loan agreement.
- Eligible activities include: acquisition of equipment, machinery, furniture and fixtures; new working capital; site improvements; leasehold improvements; building acquisition; or building renovation.
- Adequate Collateral & Security Requirements will be sought on all Micro loans.
- Have annual sales less than $100,000 AND have 10 or fewer employees.
- Demonstrate ability to repay the loan. Eligible activities include: new working capital; inventory purchases and supplies; acquisition of equipment, machinery, furniture and fixtures; leasehold improvements; & building renovation and rehabilitation
Thinking About Starting A Business?
Click the link to take FREE INTERACTIVE ONLINE CLASS to see if you are ready.
CWCAC does not provide technical assistance or training for small business. If you have questions in regards to starting a Small Business, what forms you need, tax documents or other forms please visit the following websites.
Revolving Loan Funds:
If you are interested in a Revolving Loan Fund please see the links below for Adams, Columbia & Sauk Counties.
Micro Business Development Loans Online Loan Payment Instructions
- Click on Please Pay Business Loan Payment Here
- Enter amount of business loan payment
- MAKE SURE YOU CHECK THE BOX “I’D LIKE TO ADD TO MY DONATION TO HELP OFFSET THE COST OF PROCESSING FEES”
- Click Donate with Pay Pal or Donate with Debit or Credit Card
- Enter your name and the words MBD payment under Send Optional Note
- Click the box that says “Share your mailing address with Central Wisconsin Community Action Council Inc. so they can acknowledge
- Enter your Phone Number & Email Address if asked
- Click Donate Now
- Print your receipt