The WashCo Small Biz Loan
Washington County, WI and EDWC have partnered to offer easy-access financing to county businesses who are ready to move past the pandemic and engage the “what’s next.” The Washington County Microloan is designed to empower business owners and their employees with flexible and low-cost funds needed to bridge between COVID and tomorrow’s opportunity.
Together, we will preserve businesses, jobs, and the entrepreneurial spirit at the core of our county’s economic growth engine. We want to pitch in to accelerate what you’ve built.
Standardized Loan Structure:
|Term:||4 Years – 6 months interest only payments, followed by principal and interest payments for the remaining life of the loan|
|Guarantees:||Unlimited personal guarantee by any owner 20% or more, corporate cross-guarantee of any related entities|
|Repayment:||Automatic ACH only|
|Application Fee:||$100. Charged only if application is approved|
STEP 1: Borrower Qualification (make sure you are qualified):
Can you answer YES to all eight eligibility statements? If so, then click the application link below to start our streamlined online application.
- My business is a privately held, for-profit business.
- None of my affiliated* business have applied for this loan. *See definition of affiliate below.
- I employ 25 or fewer full-time equivalent employees.
- Total revenue for my most recent tax year was less than $5 million.
- My business is in good standing with the State of Wisconsin.
- My business falls within one of these industries:
- Agriculture, Forestry, Fishing and Hunting
- Retail Trade
- Professional, Scientific, and Technical Services
- Administrative and Support and Waste Management and Remediation Services
- Educational Services
- Arts, Entertainment, and Recreation
- Accommodation and Food Services
- Other Services (except Public Administration)
- I have been in business for at least a year.
- My business is located in Washington County, Wisconsin.
STEP 2: Information to have ready to reference before proceeding to the online application:
- Financial data (Past 3 Years) from your
- Balance Sheet
- Most recent corporate tax return
- Ownership Information
- Contact Information
- Current personal financial statement
- Ownership %
- 2021 Projected Financials
* “Affiliate” means (i) any person or entity that directly or indirectly, through one or more intermediaries, owns more than 20% of the outstanding securities of any class or series or other equity interests (including, without limitation, stock, membership interests or partnership interests) of the applicant (an “Owner”), (ii) any family member of an Owner, which shall include an Owner’s spouse, children, grandchildren, parents and siblings and any trust for the benefit of any of the foregoing (“Family Member”) and (iii) any person or entity that directly or indirectly, through one or more intermediaries, is controlled by the applicant or any Owner or any Family Member of an Owner (as defined in (i) and (ii) above), in each case where the term “control” means possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of an entity, whether through ownership of securities or other equity interests, by contract interest or otherwise.