Business financing in Grant County.

Small business financing is money you borrow — or receive as a grant — to start, run, or grow a business. It can cover equipment, inventory, payroll, a commercial property purchase, or a renovation. The money can come from a bank, a credit union, a nonprofit lender (called a CDFI), or a government-backed loan program.

Most small business loans are not handed out freely. A lender looks at your ability to repay, your credit history, how long you have been in business, and sometimes what collateral (property or equipment) you can offer. The good news is that in Grant County, several lenders and programs exist specifically for smaller, newer, or underserved businesses that might not qualify at a large commercial bank.

Common financing types include:

- **Term loans** — a lump sum you repay over time with interest.

- **Lines of credit** — flexible borrowing up to a set limit, useful for cash flow gaps.

- **Microloans** — smaller loans (often under $50,000) with lighter requirements, ideal for startups and sole proprietors.

- **Equipment financing** — loans tied specifically to a piece of equipment, which serves as collateral.

- **SBA-backed loans** — loans made by local lenders but partially guaranteed by the U.S. Small Business Administration, which reduces the lender's risk and often gets you better terms.

- **Grants** — money you do not repay, usually tied to specific industries, locations, or demographics.

Grant County sits in the driftless region of southwestern Wisconsin, bordered by the Mississippi and Wisconsin rivers. The local economy is shaped by agriculture (dairy, row crops, and small farms), tourism along the river corridor, healthcare, small retail, construction trades, and a growing number of home-based and online businesses.

If you work in any of these sectors as a sole proprietor, LLC, partnership, or small corporation, you likely have financing options. Here is what lenders generally look for:

- **Time in business:** Many conventional lenders want at least 2 years of operating history. CDFIs and microloan programs often work with businesses that are younger — sometimes even pre-revenue startups.

- **Credit score:** A score of 650 or above opens more doors, but some local and nonprofit lenders consider applicants with scores in the 580–649 range, especially when other factors are strong.

- **Revenue:** Lenders want to see that your business generates enough income to cover a loan payment. Bank statements, tax returns, and profit-and-loss statements tell this story.

- **ITIN borrowers:** If you do not have a Social Security number but file taxes with an Individual Taxpayer Identification Number (ITIN), you are not automatically excluded. Several lenders and CDFIs in and near Grant County work with ITIN holders. See the Local Lenders section below.

- **Undocumented income or cash businesses:** These are harder to finance conventionally. Keeping clean records — even simple spreadsheets — and filing taxes each year builds the paper trail lenders need.

Grant County's relatively rural character means you may also qualify for programs specifically designed for rural businesses and agricultural communities, including USDA rural business programs.

Every lender has its own checklist, but the items below come up almost universally. Gathering these before you apply saves time and shows lenders you are organized.

**For the business:**

- Two to three years of business tax returns (if the business has been operating that long)

- Recent profit-and-loss statement (last 3–6 months at minimum)

- Business bank statements (last 3–6 months)

- Business license or registration with the Wisconsin Department of Financial Institutions

- Articles of incorporation or LLC operating agreement (if applicable)

- A business plan or one-page executive summary (required by most CDFIs and SBA lenders)

- Accounts receivable and payable aging reports (if applicable)

**For you personally:**

- Two years of personal tax returns

- Recent personal bank statements

- Government-issued photo ID (a passport or consular ID is accepted by many lenders if you do not have a Wisconsin driver's license)

- ITIN letter or Social Security card

- A personal financial statement showing your assets and debts

**For real estate or equipment purchases:**

- Purchase agreement or quote

- Property appraisal or equipment invoice

- Lease agreements (if applicable)

**Tips:**

- Keep digital copies of everything. A free Google Drive or Dropbox account works fine.

- If you have gaps in your tax filing history, speak with a tax professional before applying for a loan. Unfiled returns are one of the most common reasons applications stall.

- ITIN holders: make sure your ITIN is current. The IRS deactivates unused ITINs. Renewing is free and straightforward at an IRS Taxpayer Assistance Center.