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Revolving Loan Fund (RLF)

Helping Businesses Grow

HWCC works with the Small Business Association (SBA) and other financial institutions and government entities to provide loans to small businesses. Thanks to this partnership, HWCC is able to lend money directly to small business owners. HWCC helps small businesses grow with business loans, providing funds from $1,000 to $300,000. Providing business owners much-needed capital to start and/or grow their business! 

HWCC provides a number of different business loan products for your startup and business needs. Find out more by clicking on each loan below:

Pan Asia Kitchen

Revolving Loan Fund Products

This fund is to be used only for business emergency repairs or replacements or new business to use for technology or business plan underwriting. 

Emergency Fund/TA Loan Information:

  • Dollar amount of $1,000.00-$4,999.99

  • Term- 1 Year max, fully amortized

  • Unsecured loan

The Revolving Loan Fund (RLF) Small Loan is primarily used for small equipment, seasonal agricultural businesses, and public market vendors. 

RLF Small Loans information: 

  • Dollar amount of $5,000.00-$9,999.99

  • Term- Up to 2 Year max, fully amortized

  • Typically unsecured loan with an option to take GBSA/lien on asset (equipment loan)

The Revolving Loan Fund (RLF) Large loan is primarily used to provide capital for business start-ups and expansions. 

RLF Large Loans information: 

  • Dollar amount of $10,000.00-$50,000.00

  • Term- Up to 4 years maximum, 8 years amortization maximum, with annual reviews

  • Secured loan – GBSA (can use 1st/2nd mortgage lien as an abundance of caution)

The Revolving Loan Fund (RLF) Real Estate Secure Small Loan, provides capital for business start-ups that include real estate and real estate expansions, required to be secured by mortgage real estate. 

RLF Real Estate Secure Large Loan Information:

  • Dollar amount of $35,000.00-$150,000.00

  • Term- Up to 5 Years Max, 15-year amortization max with annual reviews

  • Secured loan- using Real Estate mortgage lien and GBSA (if applicable)

The Revolving Loan Fund (RLF) Real Estate Secure Large Loan, provides funding for real estate and real estate expansions, required to be secured by mortgage real estate. This option can be capped based on funds availability of DOA grant funding.

RLF Real Estate Secure Large Loan Information:

  • Dollar amount of $150,000.00-$300,000.00

  • Term- Up to 5 Years Max, 20-year amortization max with annual reviews

  • Secured loan- using Real Estate mortgage lien and GBSA (if applicable).

"Having that chunk of money from HWCC's Revolving Loan Fund was integral to really open the doors. The biggest hurdle I found with opening the business was the business plan and all the different steps to get the business open. I went to MATC and they highly recommended the Hmong Chamber and as I found out from other community resources as well that the Hmong Chamber was one of the strongest small chambers to help small businesses. Being Southeast Asian, it related very well, and also with being a woman. I worked closely with the Hmong Chamber to get the final piece of my financing. I really love being a business owner, it’s not only providing jobs, it is providing a service to people who are looking for that service and you can really make somebody’s day, providing an environment where people are really wowed when they walked through the door, and really, the independence of being a business owner."
Wen-Tyan Soo
Owner of Nail Bar Milwaukee

To Apply

Applying is simple and easy!

  1. Start the application process by filling out the online business form below.

  2. Once the form is submitted, a HWCC staff will contact you to discuss your business and loan amount and have you fill out the rest of the application

  3. After submitting your application, it will go to an underwriting review. If any other documents are needed, we’ll reach out to you.

  4. If approved, sign your loan agreement and you will receive your funds to help grow your business!

Submit Business Help Form
Carrier’s Crispies

FAQ

HWCC serves everyone with a special focus on underserved minority communities like the Hmong and Asian communities in the State of Wisconsin.

Only businesses in the State of Wisconsin are eligible for the RLF program.

RLF loan funds are eligible to be used for the following activities:

  1. The acquisition of land and buildings

  2. Site preparation and the construction or reconstruction of buildings or the installation of fixed equipment

  3. Clearance, demolition, or the removal of structures or the rehabilitation of buildings and other such improvements

  4. Purchase of machinery and equipment

  5. Working capital

RLF loan funds are not eligible to use for the following activities:

  1. Refinancing or consolidating of existing debt

  2. Reimbursement for expenditures prior to loan approval

  3. Replacement of financing from other available sources

  4. Entertainment expenses

  5. Specialized equipment that is not essential to the business operation

  6. Other activities that the Loan Review Committee may identify during the administration of the program

Each RLF loan has different terms. However, all have the goal to ‘graduate’ loan clients to a traditional lender after building a solid business credit history with HWCC.

HWCC provides five business loan options:

  1. Emergency Fund/Technical Assistance Loan – Terms: 1 Year

  2. RLF Small Loan – $5,000.00 – $9,999.99 – Terms: 2 Years

  3. RLF Large Loan – $10,000.00 – $50,000.00 – Terms: Up to 4 Years, 8 years amortization maximum

  4. RLF Real Estate Secured Small Loan – $35,000.00-$150,000.00 – Terms: Up to 5 Years, amortized over 15 years maximum

  5. RLF Real Estate Secured Large Loan – $150,000.00-$300,000.00 – Terms: Up to 5 Years, amortized over 20 years maximum

Loan amounts are subject to the availability of program funds. HWCC provides five business loan options:

  1. Emergency Fund/Technical Assistance Loan- $1000.00 – $4,999.99

  2. RLF Small Loan – $5,000.00 – $9,999.99

  3. RLF Large Loan – $10,000.00 – $50,000.00

  4. RLF Real Estate Secured Small Loan – $35,000.00-$150,000.00

  5. RLF Real Estate Secured Large Loan – $150,000.00-$300,000.00

Empowering Asian and Underinvested Business Communities

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