WBD: Fueling Wisconsin’s Small Businesses

WBD (formerly known as Wisconsin Business Development Finance Corporation) is a non-profit, mission-based lender dedicated to supporting small businesses across Wisconsin. They specialize in providing access to capital for projects that might be overlooked by traditional banks, ultimately fostering economic growth and job creation within the state.

Their core mission centers around assisting entrepreneurs in securing the funding they need to start, expand, or restructure their businesses. WBD understands that small businesses are the backbone of Wisconsin’s economy, and they are committed to helping these businesses thrive, particularly those in underserved communities.

WBD offers a diverse range of financing options, tailored to meet the unique needs of individual businesses. A key offering is the SBA 504 loan program. This program provides long-term, fixed-rate financing for major fixed assets, such as land, buildings, and equipment. The SBA 504 loan is a collaborative effort, typically involving a bank, WBD, and the Small Business Administration (SBA). WBD acts as the Certified Development Company (CDC), administering the SBA portion of the loan. The structure typically involves the bank providing 50% of the financing, WBD/SBA providing 40%, and the borrower contributing 10% equity.

Beyond the SBA 504 program, WBD also offers direct loan programs. These can be used for various purposes, including working capital, equipment purchases, and real estate acquisition. Their direct loan products often complement the SBA 504, providing a more comprehensive financing package.

What sets WBD apart is their commitment to providing personalized guidance and support to their borrowers. They work closely with business owners throughout the loan process, offering assistance with loan applications, financial planning, and other business-related matters. This personalized approach helps ensure that borrowers are well-prepared to manage their finances and successfully grow their businesses.

WBD’s impact extends beyond simply providing funding. By supporting small businesses, they contribute to job creation, community development, and overall economic prosperity. They prioritize projects that create or retain jobs, revitalize communities, and promote environmentally sustainable practices. Their investments in Wisconsin businesses help strengthen the state’s economy and improve the quality of life for its residents.

WBD’s dedication to Wisconsin’s small business community makes them a valuable resource for entrepreneurs seeking financing and support. Their expertise in SBA lending, coupled with their commitment to personalized service, positions them as a key player in the state’s economic development landscape.