WHEDA Small Business Guarantee (WSBG)
Features & Benefits
- Lower Interest Rate—improves profitability
- Longer Term and Amortization—lower monthly payment
- Use for Working Capital—finance more than fixed assets and inventory
- Reduce Risk for the Lender—makes it easier to approve the loan
Terms
- Maximum guarantee is lesser of 80% of the loan or $200,000 for
fixed assets, permanent working capital, and inventory.
- Maximum guarantee is lesser of 80% of the loan or $80,000 for
revolving working capital.
Fees
Closing fee:*
- 1.5% of guaranteed amount on loans of $150,000 or less, or
- 2.5% of guaranteed amount on loans greater than $150,000
- Servicing fee of 0.25% on the outstanding guarantee amount
due annually.
*May be financed and included in the loan request, but this portion
will not be guaranteed.
How to Use the WSBG
Gives you a summary of the process.
For Businesses
For Lenders
Frequently Asked Questions
For Businesses
General
Eligible Businesses
Eligible Uses of Loan Proceeds
Procedures
For Lenders
Eligible Businesses
Eligible Uses of Loan Proceeds
Underwriting
Servicing Responsibilities
Eligibility
Business Eligibility
What types of businesses are eligible?
Use of Loan Proceeds
What are the eligible uses for the proceeds of a WHEDA guaranteed loan?