In partnership with the Wisconsin Department of Commerce, the Milwaukee Economic Development Corporation, and several community banks, the HWCC was successful in creating a business loan fund for Hmong and Southeast Asian business community.
Created in March of 2007, the loan fund is the first of its kind in the country designed to serve Hmong and Southeast Asian businesses.
The fund, managed by HWCC, makes matching loans from $5,000 to $25,000 to provide much needed capital for business start-up or expansion. These loans also help 'bridge the gap' between the cash and assests of a business owner, and the equity requirements needed to obtain a commercial loan from a bank.
The loan fund program prvides technical assistance to help borrowers startup, manage, and grow their businesses.
Revolving Loan Fund: Available to finance up to 50% of the project cost, from $5,000 - $25,000 at low – interest rate.
Micro-Loan: Available loan for Technical Assistance, from $500 - $2,000 at no interest (repayment must be within 12 months.)