Micro Loan – Wisconsin Women’s Business Initiative Corp

Loan Program: Micro Loan – Wisconsin Women’s Business Initiative Corp
Contact: Wisconsin Women’s Business Initiative Corp
Address: 2745 North Dr. Martin Luther King Jr. Drive
City: Milwaukee

WWBIC makes loans to Wisconsin small and micro businesses up to $100,000. Both women and men throughout Wisconsin are eligible to apply.

Loan Qualifications – Have a written Business Plan.

– Will operate in the State of Wisconsin.

– Be an existing business with a successful track record and who is staged for growth.

– e a start up businesses whose owner has extensive experience in the industry.

– Understand general business operations ( management, financing, human resources, marketing, etc.

) – Have a strong credit history.

Interest Rates: Fixed, but vary according to the risk rating of the loan.

Terms: Also vary with the loan size and purpose.

The maximum term is 72 months with no pre-payment penalty.

Lines of credit are also available to existing customers who have established a strong repayment record.

Collateral: Acceptable collateral includes first lien on the business assets; and personal guarantees of owner and spouse.

A pledge of personal assets of the business owner(s) may be required.

Eligible uses: Machinery, equipment, furniture, fixtures, leasehold improvements, inventory, supplies and working capital.

Ineligible uses: Loan proceeds cannot be used to purchase real estate for business investment purposes or to refinance existing debt.

The owner must be actively involved in day-to-day business operations.

Area(s) Served: Statewide Wisconsin