ThriveOn Small Business Loans
Accessible business loans
Our community thrives when small businesses thrive.
Small businesses are vital to the fabric of a thriving community. The Greater Milwaukee Foundation is mobilizing another round of affordable loans to Milwaukee neighborhoods, with preference for disadvantaged businesses facing economic challenges due to rising costs and limited access to capital.
2024 ThriveOn Small Business Loans Terms
To Qualify
- Two years of business operations
- Two + years management with Industry experience
- Minimum profits after operating expenses (EBITDA) of $17,000 - $25,000
- Physical space in Milwaukee, Ozaukee, Washington, or Waukesha counties
- Business is a Socially and Economically-Disadvantage Business (SEDI) as defined by U.S. Treasury Department.
- No real-estate investments or returning businesses from previous rounds
- Prohibited businesses: alcohol, tobacco, CBD, gambling, sex-related, and weapons related industries.
Loan Details
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Loan range: $50,000 - $75,000, pending review and repayment capacity
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2% fixed interest, 7-year max term
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No prepayment penalty or fees
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Monthly payment schedule of principal and interest
Requirements
- Full repayment required
- Monthly business coaching sessions
- Action plan for disbursement
Use of Proceeds
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Working capital, equipment and supplies purchase, debt finance, building improvements, payroll assistance, and business-related transportation vehicle
Timeline
Application opens
June 18, 2024
Application closes
July 8, 2024
How to apply
Download and complete the digital application.
Submit your application and supporting materials to thriveonloans@greatermilwaukeefoundation.org
ThriveOn Small Business Loan Application
Additional forms
Stand-alone Personal Financial Statement. (if required)
Join us for a free informational session about the Foundation's ThriveOn Small Business Loan program.
Monday, July 1 at 1:30 P.M.
Latino Chamber of Commerce of SEW
530 S 11th St Ste 300A, Milwaukee, WI 53204
Tuesday, July 2 at 5:30 P.M.
Casa Guadalupe Education Center, Inc
419 Roosevelt Dr, West Bend, WI 5309
Contact Sonia Robinson to register.