Rental/purchase Assistance Grants

The Small Business Development Grant (SBDG) is administered by the St. Croix Economic Development Corporation (SCEDC) and is part of a broader initiative to support business development and revitalization within St. Croix County, Wisconsin. The program is designed to provide direct financial assistance to small and second-stage businesses aiming to grow, relocate, or establish a new presence in the county. SCEDC plays a central role in promoting economic vitality through grant programs that address the specific needs of the local business community, with the SBDG acting as one of several targeted mechanisms to stimulate economic activity and property revitalization. A central component of the SBDG is the Rental/Purchase Assistance Grant, which provides $5,000 to eligible businesses that commit to occupying long-vacant commercial spaces. To qualify, businesses must either rent or purchase buildings that have been vacant for over 12 months, a condition that must be verified by the local municipality. If renting, a lease agreement of at least three years and a minimum of 750 square feet is required. Businesses must also be operational within six months of the lease signing. These criteria are designed to encourage long-term investment and reduce vacancy in commercial districts, contributing to the broader goal of economic rejuvenation. All applicants must meet baseline eligibility requirements to be considered for any SBDG funding. Eligible businesses must be for-profit entities with 25 or fewer full-time employees. Additionally, they must be either currently headquartered in St. Croix County, in the process of relocating their headquarters there, or establishing a new location within the county. Each applicant must also be in good standing with the State of Wisconsin, meaning they must be registered, properly licensed, and current on tax obligations. Importantly, businesses may apply to more than one SCEDC grant program simultaneously, if eligible. The overall grant program spans from January 2026 through December 2027, or until funds are fully expended. It operates on a first-come, first-served basis, with application review determined by date/time stamps upon submission. Incomplete applications must be corrected and resubmitted within 36 hours to retain their place in the queue; otherwise, a new submission timestamp will apply. Once approved, businesses can expect disbursement of funds within eight weeks. This timeline is clearly communicated to manage expectations and ensure transparency in the review and distribution process. Participation in the grant program requires businesses to engage with one of two local business support organizations prior to receiving funding: the St. Croix Valley Business Innovation Center or the UW-River Falls Small Business Development Center. This requirement underscores SCEDC’s commitment to not only provide financial aid but also ensure that businesses are strategically supported and prepared for sustainable growth. In addition to the Rental/Purchase Assistance Grant, SCEDC offers other complementary grant opportunities such as a facade improvement reimbursement grant and a capital access boost grant. Each of these has specific eligibility timelines, requiring that expenditures or approvals occur on or after January 1, 2026. For example, the facade improvement grant is reimbursable only for updates completed during or after this timeframe. The capital access boost grant is similarly restricted to approvals occurring within the grant program window. These stipulations ensure alignment between financial support and SCEDC’s current development priorities. For further inquiries or to apply, interested businesses can contact the SCEDC at their River Falls office located at 1091 Sutherland Ave #11, or call +1 (715) 690-2110. With a total of 40 awards available and a structured process in place, this program provides a focused opportunity for local entrepreneurs and small businesses to secure capital assistance for expansion and revitalization efforts within St. Croix County.