Aside from contacting your bank or credit union, a number of other financing options are available to help you start, grow, or expand your business. This list is not comprehensive and is to help explore some options you might not have considered:
Resources to finance energy efficient components of your project can be found here.
Federal Historic Tax Credits - The Federal Historic Preservation Tax Incentives program encourages private sector investment in the rehabilitation and re-use of historic buildings. Buildings listed on the National Register are eligible for a 20% federal tax credit. Buildings not listed, but constructed before 1936, and are being redeveloped for non-residential income-producing purposes could be eligible for a 10% federal tax credit. There is no application for the 10% option and you apply with your taxes. More information is available on their website or in this brochure.
Milwaukee Economic Development Corporation (MEDC) - MEDC serves Milwaukee businesses by providing low-interest loans. They share the risk with all participants in a project, lend in partnership with a bank, and lend funds at a higher risk level in order to increase the feasibility of a project. Loan amounts are generally between $100,000 and $250,000.
WWBIC - WWBIC offers: small business loans - access to fair capital through loans of $1,000 to $250,000, even for those who may have credit or personal finance issues; business education courses - in-Person and online training on a variety of valuable business topics such as business planning, financials, marketing, social media, web design, etc; and, small business consulting - one-on-one assistance is to help people launch and grow businesses. Generally, loans can be used for start-up capital, inventory and equipment, business expansion, working capital/lines of credit, build outs, and business professional support (i.e. marketing, accounting, bookkeeping, etc.)