Achieving Growth With State Small Business Credit Initiative
Wisconsin small businesses can receive technical assistance to help become ready to secure investment
MADISON, WI. MARCH 31, 2026 — With the help of a program designed to expand access to capital for entrepreneurs and emerging companies, hundreds of Wisconsin small businesses are able to take the next step and see their business thrive.
Peggy Sonnenburg, owner of Peggy Bakes, is one of the entrepreneurs who has benefited from the State Small Business Credit Initiative (SSBCI).
When Sonnenburg’s corporate role was eliminated in 2023, she decided to launch Peggy Bakes, which features elevated, high-end, gluten-friendly granolas, at summer markets. It was a success and left Sonnenburg trying to figure out how to grow her business to meet customer demand and access the capital she needed to do that.
That’s when Sonnenburg learned about the SSBCI from her mentor at the Small Business Development Center in Sheboygan County.
“Wisconsin does an exceptional job connecting founders with resources,” Sonnenburg said. “I’ve been fortunate to be deeply engaged locally and across the state.”
SSBCI is a federal program designed to expand access to capital for entrepreneurs and emerging companies. In Wisconsin, it’s used to strengthen the state’s commitment to small business growth and innovation.
SSBCI funding is administered by the Wisconsin Economic Development Corporation (WEDC) and implemented through partners across the state to ensure entrepreneurs receive the technical assistance needed to become investment-ready.
Through a partnership with the Office of Business & Entrepreneurship (OBE) at the Universities of Wisconsin, SSBCI technical assistance is helping founders strengthen their financial readiness, refine growth strategies, and connect with capital providers.
“Small businesses are the heart of our communities,” said John W. Miller, secretary and CEO of the Wisconsin Economic Development Corporation (WEDC), the state’s lead economic development organization. “But sometimes they need a little help and the services and programs the SSBCI offers provides that extra boost small businesses need to grow.”
“The reality is many businesses are closer to funding than they think, they just need the right financial structure and strategy to unlock it,” said Colleen Merrill, director of strategic projects at OBE. “Our goal is to remove those barriers and help Wisconsin businesses access the capital they need to grow.”
The SSBCI Technical Assistance Center provides hands-on support that prepares businesses to secure funding and scale operations.
Services available to participating companies include:
- Financial modeling and pro forma development.
- Accounting systems and financial management guidance.
- QuickBooks clean up and bookkeeping strategies.
- Capital strategy development.
- Legal Service through the UW-Madison Law & Entrepreneurship Clinic.
- Investor and lender readiness preparation.
- Connections to Wisconsin’s entrepreneurial ecosystem.
Entrepreneurs participating in SSBCI technical assistance represent industries ranging from food manufacturing and retail to advanced medical technology and clean innovation.
With the assistance she’s received from SSBCI, Sonnenburg has received a loan that allowed her to make strategic investments, including transitioning to pre-printed packaging, increasing production capacity, establishing warehouse and fulfillment, and funding marketing to support wholesale expansion.
Peggy Bakes is now featured in more than 20 retail locations across Wisconsin, has expanded shipping to 27 states, and achieved a 32% repeat purchase rate online.
Sonnenburg credits the SSBCI with helping her grow her business to where it is today and recommends its services to other entrepreneurs who are facing similar challenges.
“If you’re an early-stage founder who has proven your concept and is ready to scale responsibility, these services understand what you need to become capital-ready and how to connect you with funding sources that actually work for your timeline and goals,” Sonnenburg said. “The team genuinely cares about your success—they’re investing their expertise in Wisconsin’s entrepreneurial future.”
For more information about SSBCI technical assistance, visit https://uwsystemadmin.qualtrics.com/jfe/form/SV_1MNOakslGwLP4B8
NOTE: This press release was submitted to Urban Milwaukee and was not written by an Urban Milwaukee writer. While it is believed to be reliable, Urban Milwaukee does not guarantee its accuracy or completeness.
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