Amount |
Uses |
Eligibility |
Term, Rate, Fees | |
WHEDA Small Business Guarantee (WSBG) |
Guarantee is lesser of 80% of the loan or $200,000 for fixed assets and permanent working capital; revolving working capital guarantee is lesser of 80% of the loan or $80,000 |
Land, buildings, equipment, inventory, working capital (permanent or revolving), refinancing of existing debt not to exceed 75% of the WHEDA guaranteed loan |
Expansion or acquisition of existing business OR startups limited to day cares or downtown businesses in eligible rural communities; must have positive impact on job creation/retention; business can employ no more than 50 full time equivalent positions; owner(s) must be actively engaged in the business and not delinquent in child support payments; business must be located in Wisconsin |
Term up to 15 years, 7 years on inventory and permanent working capital, 2 years on revolving working capital; rate not to exceed Prime plus 2 3/4% variable (negotiated between Lender and Borrower, approved by WHEDA) Fees: Closing fee: Servicing fee = .25% of outstanding guaranteed balance, due annually |
Neighborhood Business Revitalization Guarantee |
Guarantee is lesser of 75% of loan or $750,000; working capital guarantee is lesser of 75% of loan or $200,000 |
Land, buildings, equipment, inventory, working capital (permanent or revolving), refinancing of existing debt not to exceed 75% of the WHEDA guaranteed loan |
Stimulate economic development in redeveloping urban neighborhoods by: 1. Bringing or expanding existing businesses into the area; or 2. Developing, constructing or rehabilitating commercial real estate, including mixed-use properties, where a business occupies a portion of the building |
Term up to 5 years for permanent assets, 2 years on revolving working capital; rate not to exceed Prime plus 2 3/4% variable (negotiated between Lender and Borrower, approved by WHEDA) Fees: Closing fee = 2.5% of guaranteed amount Servicing fee = .25% of outstanding guaranteed balance, due annually |
Agribusiness Guarantee |
Guarantee is lesser of 80% of the loan or $600,000 |
Land, buildings, equipment, inventory, permanent working capital, initial marketing expenses, refinancing of existing debt not to exceed 75% of the WHEDA guaranteed loan |
Create a product new to the business from a Wisconsin grown raw agricultural commodity OR expand production of an existing product that will increase use of a raw agricultural commodity OR enhance the efficiency of the business; must be located in a community with population of less than 50,000 |
Term up to 15 years, 7 years on inventory and working capital; rate not to exceed Prime plus 2 3/4% variable (negotiated between Lender and Borrower, approved by WHEDA) Fees: Closing fee: Servicing fee = .25% of outstanding guaranteed balance, due annually |
Linked Deposit Loan Subsidy (LiDL) |
Interest rate subsidy on new loans from $10,000 to $99,000 |
Land, buildings, equipment, leasehold improvements |
Create or retain jobs; business can employ no more than 25 full time equivalent positions; maximum annual sales of $500,000; at least 50% owned and more than 50% controlled by a woman or minority group member; must demonstrate financial need |
Term up to 2 years; rate is fixed at Prime minus 1% Fee: Application fee = $100 |
WHEDA has several business products available for business owners and developers. Below is a summary of the purpose of each program and which chapters you may refer to when originating and servicing a loan, along with the forms that are applicable to that program.
The Forms List chapter describes the appropriate use of each form.
