Wisconsin Women’s Business Initiative Corp.
Press Release

In Partnership with the Wisconsin Veterans Chamber of Commerce, WWBIC Presents the Wisconsin Veteran’s Loan Fund

 

By - Jul 27th, 2020 04:34 pm

Veteran-owned small businesses play a significant role on the Wisconsin economy and WWBIC and the Wisconsins Veterans Chamber of Commerce have partnered to advance further support offerings through a newly created the Veteran’s Loan Fund.   During these unprecedented and unsettling times, support and resources for small businesses is needed now, more than ever, to aid with resiliency and sustainability for the long haul.

The WWBIC Veteran’s loan fund is for entrepreneurs and business owners needing   business assistance and is open to Veteran business owners seeking   capital to grow their businesses. The WWBIC Veteran’s Loan Fund offers loans up to $25,000 at a redudced interest rate, and   can be combined with other WWBIC funding sources for a maximum $250,000 loan. 

“We are thrilled that Bank of America is joining us with this new and additional investment to support our Veteran Entrepreneurs and Business Owners in Wisconsin.  These loan funds will prove helpful in providing that working capital and start up funds that are often difficult to secure.  This loan capital along with WWBIC’s business and financial education programming and support through our WWBIC Veteran’s Business Outreach Center (VBOC) will bode well with our strong partnership with the Veteran’s Chamber of Commerce.”   Said Wendy Baumann, President and Chief Visionary Officer at WWBIC.

“WWBIC has been helping Veteran business owners for years and we are proud to carry on that tradition with our new loan offering. We thank all of our Veterans for their service and encourage veteran business owners to reach out and explore the possibilities of one of WWBIC’s primary focuses: lending responsible capital to Wisconsin Veteran owned businesses.” Said Michael Hetzel, Director of Lending at WWBIC.

“With more than 50,000 businesses owned by veterans in Wisconsin, our state’s economy depends on the success of veteran entrepreneurs and business owners. However far too many veteran entrepreneurs struggle to access the capital they need to successfully start and grow businesses due to their military service. Thanks to the leadership of WWBIC now they are empowered to realize their dreams. When veterans succeed, Wisconsin’s economy and our communities succeed as well.” Said Saul Newton, Executive Director Wisconsin Veterans Chamber of Commerce.

“With over 30,000 Veteran owned businesses in the state of Wisconsin, this investment will offer support and assistance to Veteran owned businesses throughout Wisconsin. . Veteran owned businesses make up nearly 11% of all the small businesses in Wisconsin. I am confident that The Wisconsin Veteran’s Loan Fund will be instrumental in assisting these businesses grow ” Said Dan Newberry, VBOC@WWBIC Co-director.

About WWBIC 

Wisconsin Women’s Business Initiative Corp. (WWBIC) is a leading, innovative economic development corporation “Putting Dreams to Work.” WWBIC’s primary focus is on women, people of color, veterans and low income individuals, providing direct lending and access to fair and responsible capital, quality business education, one-on-one technical business assistance and education to increase financial capability. Since 1987, WWBIC has lent over $77 million in micro and small business loans with a current loan portfolio of $24 million and over 570 active borrowers.  To learn more about WWBIC visit: www.wwbic.com 

About the Wisconsins Veterans Chamber of Commerce  

The Wisconsin Veterans Chamber of Commerce is a membership-based business organization supporting veteran-owned and veteran-friendly businesses across Wisconsin. We advocate for Wisconsin’s veteran business community, and promote economic opportunity for military veterans, military families, and veteran-friendly businesses.

Mentioned in This Press Release

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