Action Fund Loan
The City Whitewater participated in a CDBG revolving loan fund for small businesses. That specific program has been dissolved and reinstated as the Action Fund. The primary purpose of the program is to provide stop gap financing to startup businesses. Program loans are available to applicants for the following activities:
- Acquisition of land, buildings and fixed equipment;
- Site preparation and construction or reconstruction of buildings (including leasehold improvements), provided that they are in keeping with any covenants or design guidelines (such as the Whitewater Business Park Covenants) imposed by the City of Whitewater or Whitewater CDA, and are consistent with plans approved by the City of Whitewater Plan & Architectural Review Commission;
- Installation of fixed equipment;
- Clearance, demolition, or removal of structures or rehabilitation of buildings (including leasehold improvements) and other such improvements, provided they are in keeping with any covenants or design guidelines (such as the Whitewater Business Park Covenants) imposed by the City of Whitewater or Whitewater CDA, and are consistent with plans approved by the City of Whitewater Plan & Architectural Review Commission;
- Payment of assessments to a business for sanitary sewers, water mains, public streets, and other improvements if the provision of the improvements will directly create or retain jobs. The use of Economic Development Loan Program funds in this manner must be in the form of a loan to a business which is assessed for these costs. Economic Development Loan Program funds may not be used to finance public improvements paid for by the City.
- Working capital (inventory and direct labor costs only).
The following link will provide the Loan Manual
The goal of the Capital Catalyst program is to incent capital formation and investment in startups and emerging growth companies in the state of Wisconsin. The City of Whitewater is one of four communities in Wisconsin participating in the program. Other participating cities include Fort Atkinson, Oshkosh and Milwaukee.
The program primarily supports the following WEDC Strategic Pillar and Focus Area:
- Business Development
- Entrepreneurship and Innovation
The program provides matching grants to seed funds managed by local communities and other eligible entities to provide capital to startups and emerging growth companies. The Capital Catalyst Program increases the availability of capital to startups and emerging growth companies to support growth and attract additional private investment.