City Loan Programs

The City of Eau Claire, Wisconsin offers several assistance programs for businesses that can complement or fill the gap in programs that are available through financial institutions to help get them off the ground, expand operations, create new job opportunities, and improve commercial spaces. The following list of programs is available to business and property owners. To apply or request additional information, contact our division.

Program Overviews

Commercial Building Façade Loan Fund

The City of Eau Claire Commercial Building Façade Loan Program offers low-interest loans to help property owners improve the appearance and vitality of downtown and nearby business districts.

Eligibility: Any property owners, businesses, and tenants located within city limits and in commercial zones or the central business district

Loan Amounts: $5K-$30K

Interest Rate: 0%

Micro Loan Fund

The City of Eau Claire Micro Loan Fund provides small loans to early-stage or expanding businesses to improve credit access, support growth, and promote inclusive economic development.

Eligibility: Any manufacturing or service business, excluding restaurants, located within city limits that has been in business for 3 years or less

Loan Amounts: $5K-$30K

Interest Rate: 4%

Low Barrier Loan Fund

The City of Eau Claire Low Barrier Loan Fund offers accessible financing with fewer requirements to help startups and underserved businesses access financing with fewer entry requirements.

Eligibility: Any manufacturing or service business, including restaurants, located within city limits that has been in business for 3 years or less

Loan Amounts: $5K-$25K

Interest Rate: 4%

City of Eau Claire Revolving Loan Fund

The City of Eau Claire Revolving Loan Program provides financing to support commercial and industrial business growth, job creation, and a diverse, thriving local economy.

Eligibility: Any manufacturing or service business, excluding restaurants, located within city limits that has been in business for at least 3 years

Loan Amounts: $10K-$100K

Interest Rate: 4%

Economic Development Administration Revolving Loan Fund

The City of Eau Claire EDA Revolving Loan Program provides larger loans to commercial and industrial businesses to create high-wage jobs, support startups, and strengthen the city’s economic base.

Eligibility: Any manufacturing or service business, including restaurants, located within city limits

Loan Amounts: $10K-$150K

Interest Rate: 4% (or May Vary)

Application Process

Follow these steps to apply for the financing options offered by the City of Eau Claire.

Determine Eligibility
To begin the application process, reach out to our division via email or phone call. Our team will help you review the guidelines for each loan program to find the right financing option for your business and will make recommendations depending on factors such as your income, collateral, business type, and intended use of the loan funds.

Complete an Application
When a loan program has been selected, our team will provide the application and next steps. Carefully fill out all sections of the form, gather all necessary documentation listed on the checklist included in the application, and submit all of your materials via email or in person. We will then review all of the materials you provided to ensure they’re complete.

Present to the Loan Board 
Once your application is ready, we will invite you to present before the Loan Board. At this meeting, board members will review your application and ask questions so they understand the intended use of the loan funds. They will then deliberate and deliver a decision by the end of the meeting or request more time.

Sign Loan Documents
If your loan is approved, the Finance Department will extend a final offer outlining the interest rate, terms, and conditions of the agreement. Read these documents carefully and ask any questions you have before signing. Then sign and return them to the Finance Department.

Receive Funds
Once the loan documents have been signed, you will receive the loan funds as outlined in the agreement, usually within 1-2 months. Be sure to only use the funds for their intended purpose and adhere to the repayment schedule so you can maintain a positive credit history and avoid any potential penalties or fees.

Application Deadlines

The Loan Administration Board typically meets from 11:30am-1:00pm on the third Wednesday of the month (except June and September) if there are applications to discuss. Review the deadlines for submitting an application ahead of each meeting below.

Please note that submitting an application by the deadline does not guarantee that your application will be presented at the Loan Administration Board’s next meeting. Depending on the program and accuracy of materials initially submitted, City staff may need more than two weeks to prepare applications for presentation to board members. Updates will be shared throughout the process.

Meeting Date Materials Deadline
January 15, 2025
December 25, 2024
February 19, 2025
January 29, 2025
March 19, 2025
February 26, 2025
April 16, 2025
March 26, 2025
May 21, 2025
April 30, 2025
July 16, 2025
June 25, 2025
August 20, 2025
July 30, 2025
October 15, 2025
September 24, 2025
November 19, 2025
October 29, 2025
December 17, 2025
November 26, 2025

Guides & Success Stories

These helpful guides and success stories sharing the experiences of past applicants will help you navigate the City of Eau Claire loan application process with confidence.

Frequently Asked Questions

Get answers to these common questions before starting the application process.

Eligibility

Who can apply for a City of Eau Claire business loan?

City loans are available to for-profit businesses located in, or planning to locate in, the City of Eau Claire. You don’t have to live in Eau Claire, but your project must happen here.

What kinds of businesses are typically funded?

These loans have supported everything from restaurants and retail shops to manufacturers and service providers. Whether you’re starting a business or expanding one, what matters most is that your project brings value to the Eau Claire community—like creating jobs, filling a gap in the market, or revitalizing a space.

Can I apply if I’ve already started my project?

Possibly, but it’s best to apply before you start construction or make major purchases. City funding is typically used for future expenses, not for reimbursing costs that have already happened. If your project is already underway, talk to us as soon as possible to see what might still be eligible.

Can I apply for more than one loan program?

Yes! Many businesses combine loan programs to meet their full financing needs. You can also use a City loan alongside other funding sources like bank loans, grants, or equity investment. We encourage layering financing to make your project stronger.

Loan Details

How much funding can I apply for?

It depends on the program and your project needs. Some loans start as low as $5,000, while others can go much higher. Most programs are designed to fill a gap in your financing; they’re not necessarily meant to fully fund a project on their own.

What can I use the loan for?

City loans can be used for things like equipment, building renovations, leasehold improvements, working capital, and even inventory. Each loan program has slightly different rules, so it’s best to check the program guidelines or ask our team if you’re unsure.

What are the interest rates and repayment terms?

Interest rates are typically below market and fixed for the life of the loan. Repayment terms vary based on the type of loan and how the funds are used, but we’ll work with you to create terms that make sense for your business.

Do I need to provide matching funds?

It depends on the City loan program. It’s generally a good idea to bring other financing to the table to strengthen you application—either through personal equity, bank loans, or other sources. This helps demonstrate that your project is financially sound and that you’re invested in its success.

Application Process

What documents do I need to apply?

Check the application checklist for full details, but you’ll typically need to at least provide the following:

  • A business plan

  • A project budget and use of funds

  • Financial projections

  • Recent personal and business tax returns

  • A completed loan application form

How long does the approval process take?

From the time you submit an accurate and completed application and all supporting materials, the process usually takes about 4-8 weeks. Timing can vary based on the complexity of your project and when the Loan Administration Board meets. We’ll keep you updated along the way.

Who reviews the loan applications?

Applications are reviewed by the City of Eau Claire Economic Development Division and Finance Department before they’re presented to the City’s Loan Administration Board—a group of local professionals who evaluate your project’s financial strength, community impact, and alignment with program goals.

What happens if my application is denied?

If your application isn’t approved, the Loan Administration Board will explain why and suggest ways to strengthen it for a future round. You’re welcome to revise and reapply, and we’re happy to help you prepare for the next submission.

Post-Approval

How is the loan money disbursed?

It depends on the loan agreement, but loan funds are typically disbursed in a lump sum via check. The City’s Finance Department will walk you through exactly how it works before closing.

Are there reporting or follow-up requirements?

Sometimes, yes, the City may ask for periodic updates, especially if your project includes job creation or redevelopment goals. Don’t worry, staff will let you know upfront what’s expected and keep the reporting simple and straightforward.

Can I pay off the loan early?

Absolutely. There’s no penalty for early repayment, so if you’re in a position to pay off the loan ahead of schedule, go for it!

Not sure where to start?

Reach out to the City of Eau Claire Economic Development Division today.