Boost Your Biz: Four Local Grants for Entrepreneurs
these programs are here to help your startup
From long-established firms to startups, businesses of all kinds have faced serious challenges during the pandemic. Here are four programs highlighted by Downtown Eau Claire Inc. that provide grants and resources to new or existing businesses:
1. EDA CARES ACT RECOVERY ASSISTANCE REVOLVING LOAN FUND.
This revolving loan fund, operated by the Eau Claire-based Regional Business Fund Inc., “is designed to assist small businesses most impacted by the COVID-19 pandemic by assisting with long-term, fixed rate, low-interest working capital loans.” Loans range from $5,000 to $10,000 and must be repaid within seven years. Learn more at www.rbfinc.org/cares-act-rlf.
2. CITY OF EAU CLAIRE REVOLVING LOAN FUND.
The City of Eau Claire also received funding from the EDA Cares Act for a new Revolving Loan Fund to help with COVID-19 recovery. Learn details by emailing firstname.lastname@example.org.
3. RED LETTER GRANT.
The Red Letter Grant is focused on supporting and empowering female entrepreneurs in 10 counties of western Wisconsin. Two $2,000 grants will be awarded this fall, and applications are due Monday, Oct. 5. Learn more at www.redlettergrant.org/apply2.
4. IDEA CHALLENGE.
The Idea Challenge is an annual contest operated by the Eau Claire Area Economic Development Corp. that assists entrepreneurs in turning their ideas into reality. Applicants must be from Eau Claire County, and the grand prize is $5,000. This year’s application deadline is Oct. 1. Visit www.eauclaire-wi.com/entrepreneurs/idea-challenge to learn more.