Dislocated workers who start manufacturing or service businesses are also eligible. Borrowers are expected to comply with EDA and federal requirements.
Terms are negotiable, but tend to be short-term to ensure the revolving nature of the program.
The maximum term is five years. The project must leverage private investment of five dollars to each EDF dollar and must create new jobs. It can involve land and building acquisition, renovation, rehabilitation and re-use of existing buildings for commercial and industrial purposes, new construction, and the purchase of equipment. Term of the loan is matched to the useful life of the collateral. The Wisconsin Development Zone Program is a state economic development initiative designed to improve both the quality of the environment and the quality of employment opportunities in designated communities.