In a bid to foster economic growth and support local businesses, the Wauwatosa Revolving Loan Fund Corporation (WRLF) provides financial assistance to small and medium-sized businesses located in Wauwatosa. The WRLF aims to create jobs, stimulate private investment, and enhance the overall economic vitality of the community.
The Revolving Loan Fund offers low-interest loans to eligible businesses for a variety of purposes, including working capital, equipment purchases, and building renovations. By providing access to capital that might otherwise be unavailable through traditional lending sources, the RLF helps businesses overcome financial barriers to growth and sustainability.
Program Highlights
- Eligibility: The program is open to for-profit businesses located in Wauwatosa. Applicants must demonstrate the ability to repay the loan and contribute to job creation or retention.
- Loan Terms: Loans up to $100,000 with interest rates typically below market rates. Terms can be flexible depending on the use of funds and borrower’s needs.
- Application Process: Businesses interested in the RLF program must submit a comprehensive application, including a business plan, financial statements, and a detailed project description. Applications are reviewed by the WRLF Board of Directors, which evaluates the feasibility and potential impact of each project.
The RLF program not only provides crucial financial support but also helps businesses leverage additional funding from other sources. By combining RLF loans with other financing options, businesses can achieve their growth objectives more effectively.
Recent Success Stories
Several local businesses have benefited from the Revolving Loan Fund, using the financial support to expand operations, upgrade facilities, and create new jobs.
“These success stories underscore the impact of the WRLF in fostering a thriving business environment in Wauwatosa”, says Jen Ferguson, Wauwatosa’s Economic Development Manager. “The Economic Development Department remains committed to supporting local businesses through innovative financing solutions and strategic partnerships.”
For more information about the Revolving Loan Fund and how to apply, visit the City of Wauwatosa's Economic Development Department website.
