Capital Access Boost Grant

The Small Business Development Grant (SBDG), administered by the St. Croix Economic Development Corporation (SCEDC), aims to strengthen the economic foundation of St. Croix County, Wisconsin, by offering direct financial support to small and second-stage businesses. One of the distinct offerings within this broader grant initiative is the Capital Access Boost Grant, designed to enhance the impact of non-traditional loan programs by providing supplemental unrestricted funding to eligible businesses. This initiative reflects SCEDC's commitment to fostering entrepreneurial resilience and improving access to working capital for local enterprises. Under the Capital Access Boost Grant, businesses that have been approved for specific non-traditional loan programs may receive an additional $5,000 in grant funds. These funds are not restricted in their usage and can be applied toward general business purposes, offering flexibility to grantees. Eligibility hinges on the approval of loan applications from sources such as all SBA loan programs, Revolving Loan Fund (RBF) programs, the Wisconsin Women’s Business Initiative Corporation (WWBIC), the St. Croix Valley Business Innovation Center (SCVBIC), and the Hmong Chamber of Commerce. Additional loan sources may be evaluated for inclusion at the discretion of the SCEDC board. Importantly, applicants leveraging traditional bank financing are not eligible for this grant. Applications are reviewed on a first-come, first-served basis, with timestamps determining priority. To maintain their position in the queue, applicants must submit complete applications; if incomplete, they must respond with the requested documentation within 36 hours. Delays in resubmission will result in the loss of original placement in the review order. The program operates from January 2026 through December 2027 or until funds are exhausted, emphasizing the importance of timely and complete applications. To receive funding, businesses are required to participate in a meeting with either the St. Croix Valley Business Innovation Center or the University of Wisconsin–River Falls Small Business Development Center. These sessions are likely intended to offer guidance and ensure the businesses are positioned for sustainable success. In addition to these stipulations, all applicants must be for-profit entities headquartered in St. Croix County, relocating their headquarters to the county, or establishing a new location within the county. Each applicant must employ no more than 25 full-time employees and be in good standing with the State of Wisconsin, including valid registration and licensing and compliance with tax obligations. Up to 40 awards will be distributed throughout the lifecycle of the program, which is anticipated to conclude in December 2027 unless all funds are allocated sooner. Although no explicit application deadline is provided, the fixed program window and limited award quantity underscore the competitive nature of this opportunity. Once approved, businesses may experience a processing period of up to eight weeks before disbursement of funds. The SCEDC also sponsors related initiatives like the Scale Up Pitch Competition, scheduled for May 2026 and May 2027, which complements the grant programs by offering another avenue for business development and visibility. Overall, the Capital Access Boost Grant provides targeted, flexible financial assistance that aligns with SCEDC’s broader objective of supporting small business growth in St. Croix County. By incentivizing participation in non-traditional lending programs and offering additional resources, the grant helps to bridge capital gaps and encourage economic vitality in the region.