This fund provides loans to Wisconsin companies to facilitate research and development and commercialization of innovative technology products.
Criteria and conditions for these loans:
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Eligible applicants must have fewer than 100 full-time equivalent employees.
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Applicants must provide a cash match of at least 50%-75% of eligible project costs. Note: Loan funds typically cover about 25% of the project costs.
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Terms: Working capital – 5 to 7 years; Equipment – 5 to 10 years
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Collateral: WEDC will seek the best collateral position possible. Personal guarantees may be required.
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Repayment: Monthly payments of the principal and interest.
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Eligible project costs include most working capital and equipment costs.
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Expenses associated with preparation of WEDC application and expenses incurred prior to the date the application is submitted to WEDC are not considered eligible project costs . WEDC funds cannot be used for university overhead or administration and other indirect costs. These costs may be eligible to be funded from the applicant’s 50% match requirement.
For more information or to obtain an application, contact Aaron Hagar, 608-267-0769 Aaron.Hagar@wedc.org
*Interested parties should be prepared to submit documents including but not limited to a business plan or a detailed project summary.
