Local Assistance

The EDCMC can help you with understanding and with more information on the various financial option. We will work with you and the communities on securing the best options for you business.

Revolving Loan Funds (RLF)

Revolving Loan Funds are designed to provide funds, generally at favorable interest rates, that can assist entrepreneurs with funds needed to start or expand a business. Loans are generally tied to maintaining or expanding the work force. As the business repays the funds to the local unit of government, the money can be loaned to other existing businesses within the community or county to finance additional economic development projects.

In Two Rivers, the city lends $5,000 to $20,000 for every job created, as long as the business invests at least twice the amount of the city loan. The financing may be used for capital improvements or investments needed to expand or maintain employment and production levels in the city. Local lenders can help with your portion of the investment. LEARN MORE

The City of Manitowoc has two fund programs; The City's Downtown Revolving Loan Fund (DRL) and the Industrial Revolving Loan Program (IRL). The DRL Program encourages the revitalization of businesses in downtown Manitowoc and provides long-term, fixed rate financing at 4% interest with low down payment requirements. The IRL program provides capital for projects city-wide at long-term, fixed rate financing at 65-75% of the prime rate, with low down payment requirements. LEARN MORE

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Tax Increment Financing (TIF)

A TIF is a mechanism for financing local economic development projects. Taxes generated by the increased property values pay for land acquisition or needed public works. Manitowoc has used TIF to accommodate and support selected new industrial and commercial development projects. Requires execution and compliance with a developers Performance Agreement.

In Two Rivers, three of the seven existing TIF districts have assisted industrial development while four have assisted in the redevelopment of blighted or obsolete properties.

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Industrial Revenue Bonds

Manitowoc County municipalities participate in Wisconsin's Industrial Revenue Bond program. The Wisconsin program now has more than $200 million available to assist small manufacturers with expansion projects through low interest financing. The Department of Commerce grants the bonding authority (volume cap allocation) to cities, villages and towns to issue the bonds on behalf of a business.

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Private Investment Committee

The Economic Developemnt Corporation of Manitowoc County is tapped into individuals sometimes known as angel investors and venture capitalist who make investments into qualified and fast-growth companies. They can be vital sources of capital for many kinds existing and start-up businesses. Providing entrepreneurs with the opportunity to turn a vision into reality, venture capitalists and angel investors lay the foundation for a healthy, vibrant economy. They not only act as a source of capital, but also offer a wealth of knowledge to fledgling entrepreneurs. Venture capital and angel investment funds offer a unique opportunity to tailor financial assistance that meets specific needs of business. Contact us for more information.

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