Funds are available in the Wausau central business district for low-interest, deferred installment loans to do exterior façade renovation and code compliance.
Commercial Rehabilitation Loan Guidelines
Commercial Rehabilitation Loan Application
REVOLVING LOAN FUND
The City of Wausau’s Revolving Loan Fund (RLF) is administered by the Marathon County Economic Development Corporation (McDEVCO). Funds are available for projects that create and retain private sector jobs, increase tax base and leverage private investment. The RLF committee will review the loan application for:
- The viability of the business concept
- The potential of the business for growth and job creation
- The credit history of the applicant and soundness of the business plan
- The ability to repay from cash flow
- The number and type of jobs to be created
- The benefit of the project to the community
Application packets and completed business plans submitted to the RLF committee with a letter of commitment from a local financial institution for matching conventional financing is required for consideration. For more information contact Jim Warsaw at McDEVCO, Inc., P.O. Box 6190, Wausau, WI 54402-6190 or (715) 845-6231.
The Micro-loan program was developed to help new and expanding small businesses within the City of Wausau. This low interest, short-term program serves a need for local business owners who need to fill a gap with commercially approved loans, acquire working capital for special projects, or purchase equipment. Loans are for $5,000 at 2% simple interest over 48 months.
Applications may be made by letter to the Community Development Department, Wausau City Hall, 407 Grant Street, Wausau, WI 54403. The letter shall include a description of the project or business idea and a brief history of the company. Other necessary documentation includes a business plan with projections (or three years of history if existing business) and income tax statements.
NORTH CENTRAL ADVANTAGE TECHNOLOGY ZONE
The North Central Region of Wisconsin was recently designated as one of the eight Technology Development zones in the state. The Region includes Adams, Forest, Langlade, Lincoln, Marathon, Oneida, Portage, Wood, and Vilas Counties. This nine county region has been titled the North Central Advantage Technology Zone and is intended to promote the development and expansion of high-technology businesses by the issuance of Wisconsin income tax credits. For more information, visit the website.
MAIN STREET WAUSAU
Main Street is a comprehensive revitalization program that promotes the historic and economic redevelopment of traditional business districts in Wisconsin and across the country. As a community selected to participate in Wisconsin’s Main Street program, Wausau will receive five years of free technical assistance and training including the following direct benefits to businesses in the Main Street District:
- Onsite business consultation to business owners and managers in areas such as marketing, business planning, advertising, financial analysis, inventory control and more. The Main Street business specialist also helps communities plan business recruitment and retention programs.
- Onsite design assistance.
- Resource materials.
The Main Street Wausau, Inc., office is located at 316 Scott Street, downtown. Please contact Elizabeth Field at 715-845-1328 or by cell at 715-297-1829.