ThriveOn Small Business Loans

Accessible business loans

Our community thrives when small businesses thrive.

Small businesses are vital to the fabric of a thriving community. The Greater Milwaukee Foundation is mobilizing another round of affordable loans to Milwaukee neighborhoods, with preference for disadvantaged businesses facing economic challenges due to rising costs and limited access to capital.

2024 ThriveOn Small Business Loans Terms

To Qualify

  • Two years of business operations 
  • Two + years management with Industry experience 
  • Minimum profits after operating expenses (EBITDA) of $17,000 - $25,000
  • Physical space in Milwaukee, Ozaukee, Washington, or Waukesha counties 
  • Business is a Socially and Economically-Disadvantage Business (SEDI) as defined by U.S. Treasury Department. 
  • No real-estate investments or returning businesses from previous rounds
  • Prohibited businesses: alcohol, tobacco, CBD, gambling, sex-related, and weapons related industries.

Loan Details

  • Loan range: $50,000 - $75,000, pending review and repayment capacity

  • 2% fixed interest, 7-year max term

  • No prepayment penalty or fees

  • Monthly payment schedule of principal and interest

Requirements

  • Full repayment required
  • Monthly business coaching sessions
  • Action plan for disbursement

Use of Proceeds

  • Working capital, equipment and supplies purchase, debt finance, building improvements, payroll assistance, and business-related transportation vehicle

Timeline

Application opens

June 18, 2024

Application closes

July 8, 2024

How to apply

Download and complete the digital application.

Submit your application and supporting materials to thriveonloans@greatermilwaukeefoundation.org

Check back on June 18 for the application.

 

Additional forms

Stand-alone Personal Financial Statement. (if required)

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Join us for a free informational session about the Foundation's ThriveOn Small Business Loan program.

 

Thursday, June 13 at 5:30 P.M.

Greater Milwaukee Foundation

2153 N. Dr. Martin Luther King Jr. Drive, Suite 4000


Monday, June 24 at 1:30 P.M.

Virtual meeting with the Ozaukee Economic Development, link will be provided after registration


Thursday, June 27 at 5:30 P.M.

Waukesha Business Alliance


Monday, July 1 at 1:30 P.M.

Latino Chamber of Commerce of SEW 

 

Contact Sonia Robinson to register.