Loan Facts
- Who: Women and men throughout Wisconsin are eligible to apply for loans to start or grow a business.
- Loan Size: $1,000-$100,000
- Interest Rate: Fixed interest rates
- Terms: Maturity depends on loan size and purpose. Maximum term of 72 months with no pre-payment penalty. Lines of credit are also available.
- Collateral: First lien on the assets of the business. Personal Guarantee of the owner (and spouse) of the business. Pledge of personal assets of the business owner(s) may be required.
- Loan Application Fee: A non-refundable fee of $75.00 will be assessed.
- Eligible Businesses: For-profit businesses that follow SBA standardsfor business size and type.
- Eligible Uses of Loan: Machinery, equipment, furniture, and fixtures, leasehold improvements, inventory, supplies and working capital.
- Ineligible Use of Loan: Loan proceeds cannot be used to purchase real estate for business investment purposes or to refinance existing debt. Owner must be actively involved in business operations.
By completing a loan application online, I agree to submit a nonrefundable $75.00 fee for processing of the application to the WWBIC office located at 2745 N. Martin Luther King Jr. Dr. Milwaukee, WI 53212.
Please note: Application will not be processed until the fee is received at our office. Please make sure that check or money order is made payable to WWBIC and that borrower’s name and business are noted.
*Online payment system coming soon.
IMPORTANT NOTE: WWBIC requires a completed written Business Plan before a loan can be approved. Please consider this before you pay the $75.00 application fee.
Start Application Now! If you are an existing business, please download, complete and send in the Business Information Form and Client Information Form with your application fee. If you are starting a business, please send in the Client Information Form ONLY.
You will be able to start the application now and complete at a later time.
