A range of financing options are available for business development projects in Pierce County.

The Economic Development Corporation will assist in the preparation of loan applications and supporting documentation.

Area communities will generally fund direct costs of grant writing as part of a financing package, when they are necessary.

We maintain close relationships with local financial institutions as well as the State of Wisconsin, Department of Commerce.
 

Financial Assistance Programs

Pierce County Revolving Loan Fund
Pierce County provides a low-interest loan fund intended to meet the following objectives: encourage the creation and retention of permanent jobs, encourage the leveraging of new private investment into the county and to promote a diverse mix of employment opportunities.

Revolving Loan Fund eligibility, rates and terms are based on job retention and creation; business plan viability; and human resource policies.

 

Local Utility Company Programs
Xcel Energy. Xcel Energy serves Prescott, Ellsworth, Spring Valley, Elmwood, Maiden Rock and Hager City. Businesses served by Xcel Energy may be eligible for low-interest subordinated loans for land, buildings, equipment and working capital.

Pierce-Pepin Cooperative Services. Businesses served by the Co-op may be eligible for the Cooperative's highly attractive low interest rate loan programs. Up to $400,000 may be obtained for fixed asset financing at 0%-2% for up to a ten-year term.


State of Wisconsin - Department of Commerce
Customized Labor Training Fund. This program provides grants to businesses that are implementing new technology or production processes. The program can provide up to 50% of the cost of customized training that is not available from the Wisconsin Technical College system.

Technology Zone Tax Credits. Target industries with a substantial research and development component may apply for up to $250,000 in tax credits to support proposed capital investments that create high wage jobs.

Small Cities Community Development Block Grant ED Program. Federal funds provide low interest loans to businesses to promote job creation and job retention. A local government sponsors the business application. Level of funding depends on the number and quality of jobs to be created and or retained.


State of Wisconsin - Industrial Revenue Bond                             Industrial Revenue Bond (IRB's). IRB ís a means of financing the construction of equipping manufacturing plants and limited number of non-manufacturing facilities. Municipalities support industrial development through the sale of federal tax-free bonds. 


Small Business Administration (SBA)
Provides loan guarantees that are used in conjunction with bank financing to improve loan terms.

Land, building and equipment expenditures are eligible for long term, fixed rates, and below rate market rates.

A key advantage of this program is a reduction of the down payment typically required of the business, allowing for the preservation of cash for working capital or other purposes.

 

Other programs are available for inventory and working capital needs. Call to discuss capital needs, cash flow, and tax situations so that the best possible capital structure can be created for long-term profitability and return on investment.

Financial Institutions

Pierce County EDC
410 S. Third St. - UWRF RDI Building River Falls, WI 54022
Phone: (715) 425-3881
Fax: (715) 425-4479
E-mail: info@pcedc.com