Wisconsin Business Loans

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    Financing for Companies in Wisconsin

    Wisconsin, America’s dairy land, is known for its great beer and cheese, but its economy has a lot more to offer. Dairy products, the manufacturing industry, information technology, and the tourism industry are all key elements of the state and local economy. SMB Compass provides business loans in Wisconsin to a wide range of industries and businesses.

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    Top Industries in Wisconsin

    • Manufacturing

      Manufacturing plays a significant role in the revenue of Wisconsin’s economy, with a primary focus on dairy, wood, and paper production. The state offers tax incentives in the manufacturing industry to draw more companies and help the local economy.

      Wisconsin, famous for its cheese production, relies on dairy product manufacturing to bring a needed source of revenue for the state. The wood manufacturing industry is dependent on forest products that supply a large amount of jobs and revenue.

      Wisconsin has one of the top paper manufacturing industries in the country and has proven to be very lucrative for the state, providing over 50,000 jobs annually. These manufacturing companies use small business loans in Wisconsin to cover the inventory and overhead expenses they endure.

    • Hospitality

      Wisconsin is home to some of the nation’s top colleges and universities, bringing tons of revenue to small business owners yearly. Visitors from around the country flock to Wisconsin to attend college and professional sports events; the state is most notably home to the National Football League’s Green Bay Packers. These sporting attractions provide much-needed revenue to the tourism and hospitality industries.

      Milwaukee has major attractions that bring new visitors from across the country to the state yearly, adding revenue and opportunities for Wisconsin businesses. The many business loans Wisconsin has are for the industries in the area, so they may use hotel loans and small business loans in Wisconsin to manage and grow their businesses. SMB Compass offers Wisconsin small business loans to various industries and businesses to help the growing local economy.

    • Food and Beverage

      Wisconsin's food and beverage industry, which includes breweries, wineries, and specialty food makers, is thriving. Two standout areas are craft beer and cheese production. Small businesses in this industry, like craft breweries and cheese makers, often use small business loans for essential needs. These loans help expand facilities, buy ingredients, promote their products, handle seasonal changes, and maintain product quality. With small business loans, Wisconsin's food and beverage entrepreneurs can keep growing and adding to the state's culinary reputation.

    • Agriculture

      Agriculture is at the core of Wisconsin's economy, with dairy farming taking a prominent role, making the state one of the leading dairy producers in the U.S. Additionally, Wisconsin cultivates crops like corn, soybeans, and cranberries. Small business loans play a crucial role in supporting businesses in this sector. These loans help farmers and agricultural entrepreneurs modernize equipment, expand operations, manage seasonal cash flow, upgrade infrastructure, and enhance marketing and distribution efforts. Wisconsin's agricultural businesses can stay competitive, adapt to changing markets, and sustainably contribute to the state's agricultural legacy by utilizing small business loans.

    Types of Wisconsin Business Loans

    • Business Line of Credit

      A business line of credit is a flexible loan arrangement that allows you to borrow money up to a predetermined credit limit. Think of it as a credit card for your business but with better terms. The key advantage is flexibility; you can borrow what you need, when you need it, and only pay interest on the amount you use.

      Businesses commonly use lines of credit to manage cash flow, cover short-term expenses, seize growth opportunities, or deal with unexpected emergencies. Unlike traditional loans, where you receive a lump sum, a line of credit gives you ongoing access to funds as long as you don't exceed your credit limit. It's a handy financial tool that provides quick access to capital without a new loan application each time you need funds.

    • SBA Loans

      An SBA loan, or Small Business Administration loan, is a specialized type designed to support small businesses in the United States. The SBA doesn't directly provide loans but guarantees a portion of the loan made by approved an SBA lender, such as banks or credit unions. This guarantee reduces the risk for lenders, making it easier for small businesses to access financing.

      SBA loans come in various forms, including 7(a) loans for general purposes, CDC/504 loans for real estate and equipment, SBA Express Loan program, and microloans for small capital needs. These loans offer more favorable terms, lower interest rates, and more flexible eligibility requirements than traditional business loans.

    • Asset-Based Lending

      An asset-based loan is a type of financing where you use your business assets, such as accounts receivable, inventory, or equipment, as collateral to secure a loan. In essence, it's a borrowing arrangement where the value of the company's assets determines the loan amount. These loans are particularly useful for businesses with substantial assets but limited cash flow or credit history.

      Lenders assess the value of the assets and extend credit based on that valuation. Asset-based loans are often used for working capital needs, expansion, or to manage cash flow. If the borrower fails to repay, the lender can seize and sell the collateral assets to recover the loan amount.

    • Invoice Financing

      Invoice financing, or accounts receivable financing, is where you receive immediate funds by selling your unpaid invoices to a lender or a financial institution.

      Instead of waiting for customers to pay their invoices, you can access a significant portion of the invoice value upfront. The lender typically provides a percentage of the invoice amount, and once the customer pays the invoice, the remaining balance, minus a fee, is released to the business.

      Invoice financing helps companies improve cash flow, meet immediate financial needs, and reduce the time spent waiting for payments, making it a valuable tool for managing working capital.

    • Business Term Loan

      A business term loan is a straightforward business loan with a fixed loan amount, a predetermined interest rate, and a set repayment term. You’ll receive the loan amount upfront and repay it over a specified period, typically one to five years or more.

      These loans are commonly used for significant investments, such as buying equipment, expanding operations, or launching new projects. The fixed terms and predictable payments make budgeting and planning for the future easier. Business term loans are a popular choice for long-term financing needs.

    • Equipment Financing

      Equipment financing is a specialized business financing that allows you to acquire essential equipment and machinery without paying the full purchase price upfront. Instead, the business borrows the funds needed to buy the equipment and makes regular monthly payments over a specified period. The equipment often serves as collateral for the loan, reducing the lender's risk.

      This type of financing is beneficial for businesses that rely on specific equipment, such as manufacturing, construction, or healthcare companies. It helps them access the necessary tools to operate and grow while preserving their working capital for other needs.

    • Purchase Order Financing

      Purchase order financing is where you get the necessary funds to fulfill your customer’s purchase order for goods or products. This type of financing is typically used by businesses that lack the capital to purchase or manufacture the required inventory to meet customer demand.

      You secure a purchase order loan instead of turning down orders or delaying delivery. The lender provides the funds needed to fulfill the order, and once the goods are delivered and the customer pays, you repay the lender along with fees. Purchase order financing helps you fulfill orders and maintain customer relationships by ensuring timely deliveries.

    • Inventory Financing

      Inventory financing is a type of business financing tailored for inventory purchases. It often comes as a line of credit or term loan designed to cover the cost of goods. What sets it apart is that many inventory loans can fund up to 100% of the inventory's cost. This type of financing is most suitable for businesses with inventory that moves quickly, either because it's presold or easy to sell. It gives you enough inventory to meet customer demand without tying up all your available capital, helping you optimize cash flow and grow your operations efficiently.

    • Bridge Loans

      A bridge loan is designed to "bridge" or fill anticipated cash flow gaps. While any existing business can use a bridge loan, it's most effective when it has access to a line of credit to manage cash flow needs. Bridge loans offer short-term financing solutions to cover expenses or investments until more permanent funding becomes available. They are often used during transitional periods, such as waiting for long-term loan approval, selling assets, or waiting for customer payment. These loans are a flexible tool for businesses, helping them maintain operations and seize opportunities without being hindered by temporary financial constraints.

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    The Application Process

    • 1. Fill out our online application form.

      Start the process by completing our user-friendly online application form. It's a quick and hassle-free step that doesn't cost anything, and rest assured, it won't impact your credit score. This initial form gathers essential information about your business and financing needs.

    • 2. We’ll review your application.

      Once you've submitted your application, our team will thoroughly review it. We'll assess your business's financial health, creditworthiness, and requirements. Expect a prompt response as we reach out to discuss the financing options available to you. This personalized consultation ensures you receive tailored solutions aligning with your business goals and financial situation.

    • 3. Receive Loan Offers

      After our consultation, we'll connect you with loan offers from our trusted partners. These offers are designed to meet your specific needs and preferences. Once you've selected the loan option that best suits your business, you can proceed to secure the funding you require. Our goal is to make the financing process efficient and straightforward, allowing you to focus on growing and enhancing your business.

    Apply for a Wisconsin Business Loan Today!

    Wisconsin offers a variety of business loans and financing options to support entrepreneurs and businesses in their growth journey. Whether you're managing day-to-day operations or expanding an existing one, accessible solutions are available. From Small Business Administration (SBA) loans to equipment and invoice financing, Wisconsin's business-friendly environment provides opportunities for businesses of all sizes.

    If you don't know where to start, SMB Compass is here to help with your small business needs. Our team is dedicated to guiding you through the financing process, connecting you with the right partners, and ensuring you make informed decisions to achieve your business goals. Choosing the right loan and using it wisely can fuel growth and contribute to Wisconsin's thriving economy.

    Call us today at 888-853-8922 or email us at info@smbcompass.com. We’d be happy to assist you and answer all your questions!

    Ready to apply for a Business Loan?