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Sheboygan County Revolving Loan Fund

Program Information

Sheboygan County has reopened the Revolving Loan Fund (RLF) available through Sheboygan County‚Äôs Industrial Development and Revolving Loan Agency. The Sheboygan County Economic Development Corporation (SCEDC) will administer the loan funds. This fund was designed to create a low-cost alternative financing option for small businesses and start-ups in the county. The RLF program includes interest rates and loan maturities that are designed to encourage business development, private investment, and job creation in Sheboygan County, Wisconsin. 

Other Sheboygan County communities with Revolving Loan Funds:

Please call the SCEDC at (920) 452-2479 to discuss your project or email SCEDC Executive Director Brian Doudna or SCEDC Business Counselor Ray York. If your project qualifies for the Revolving Loan Fund, the SCEDC will guide you through the next steps and the application process.

Find below the objective guidelines, eligibility information, and terms and conditions regarding the Revolving Loan Fund



The SCEDC continues to work with entrepreneurs to find alternative financing options for small businesses and start-ups in the county. Please contact SCEDC Business Counselor Ray York for more information at (920) 452-2479.



Economic development activities assisted with funds made available through the Sheboygan County's Industrial Development and Revolving Loan Agency are intended to meet the following objectives:

  1. To encourage the leveraging of new private investment into Sheboygan County in the form of fixed asset investment, particularly in land, buildings, and fixed equipment.
  2. To perpetuate a positive and proactive business climate that encourages the retention and expansion of existing businesses and helps to attract desirable new businesses.
  3. To implement Sheboygan County's Comprehensive Plan goals and objectives.
  4. To maintain and promote a diverse mix of employment opportunities and to minimize seasonal or cyclical employment fluctuations.
  5. To encourage the development and use of modern technology and create safe work environments.



Eligible Area

The area served by the RLF program shall generally be within the corporate limits of Sheboygan County.

Eligible Applicants

  1. Applications may be submitted by the authorized representatives of any business wishing to establish a new operation or expand an existing operation in Sheboygan County.
  2. No voting member of the Sheboygan County's Industrial Development and Revolving Loan Agency is eligible for financial assistance under this program.
  3. The applicant must not be delinquent or in default on federal, state, or local taxes or any existing private or publicly financed loan and will be required to sign an affidavit to that effect.
  4. Applicants shall not be disqualified based on age, race, religion, color, handicap, sex, physical condition, development disability, sexual orientation, or national origin.

Eligible Activities

Program loans shall be available to eligible applicants for the following activities:

  1. The acquisition of land, buildings, and fixed equipment (related expenses).
  2. Site preparation and the construction or reconstruction of buildings or the installation of fixed equipment and related expenses.
  3. Clearance, demolition, or the removal of structures or the rehabilitation of buildings and other such improvements.
  4. Working capital (Justifiable use of dollars & only a percentage of the entire project).
  5. Purchase of seeds, livestock, or farm products that increase the production capacity of the farm.
  6. Historical or significant rehabilitation to a commercial, mixed-use, industrial or retail structure
  7. Bridge financing where other sources of capital are expected to flow into the project at a later date (an example of this is the future receipt of tax credit funds)
  8. Other activities that the Sheboygan County's Industrial Development and Revolving Loan Agency may identify as appropriate for the RLF program



To be eligible for funding, a proposed project must meet all of the following minimum requirements:

  1. Private Funds Leveraged. The applicant must leverage a minimum of one dollar ($1.00) of private funds for each dollar ($1.00) of loan funds requested. Higher leverage may be required at the discretion of the Loan Review Committee.
  2. Financial Feasibility and Business Viability. The applicant must demonstrate that the proposed project is viable and the business will have the economic ability to repay the funds.
  3. Compliance with Applicable Laws. Applicants shall comply with all applicable local, state, and federal laws and codes.
  4. Project Completion. Projects shall be completed within 36 months from the date of the loan approval. Applicants shall provide the Loan Committee with a project implementation schedule not exceeding 36 months for project completion.



Loan terms and conditions shall be structured on the need and ability to repay. Minimum standards shall include the following:

  1. Loan Amount. Loan amounts are subject to the availability of program funds.
  2. Interest Rate. The interest rate shall be established by the Loan Committee.
  3. Terms for Loans. 
    • Working capital loans shall have a maximum term of seven years.
    • Loans for machinery, equipment, and fixtures shall have a maximum term of ten years.
    • Real estate loans shall have a maximum term of 12 years which can be amortized on a 20-yr basis with the option of refinancing for an additional 8 years.
    • In any case, the loan shall not have a term longer than the terms of the other private financing in the project.
  4. Repayment. Payment of interest and/or principal may be deferred during the implementation period of the assisted activity if merited in the loan application. Interest shall accrue during the deferment period and may be paid in full or added to the principal amount of the loan. Following the deferral period, interest and principal shall be paid for the remaining term of the loan.
  5. Prepayment. There shall be no prepayment penalties.
  6. Collateral. The Loan Committee will seek to have the best possible collateral position possible to ensure that RLF loans are adequately secured.
  7. Insurance. Term life and building insurance may be required of the applicant to cover the loan balance through the life of the loan.