In Wisconsin

Technology Development Loan Program FAQ

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Technology Development Loan Program FAQ

What is the Technology Development Loan Program?

WEDC’s Technology Development Loan (TDL) Program is an investment in Wisconsin’s economic future. The program provides financial assistance to startups and emerging companies with the potential to attract high-wage, highly skilled workers, therefore creating a long-term competitive advantage for the state. Companies that receive aid are in the critical developmental stages of designing and commercializing innovative products and services. While funding depends on the company’s growth stage, financial need, economic potential and risk assessment, each loan recipient can use the money as working capital as they look for leverage from outside funding.

What is the program’s primary goal?

The goal of the TDL Program is to ensure Wisconsin’s economy continues to be competitive by addressing the financial needs of technology-based startups. This goal is in line with WEDC’s core strategy to expedite entrepreneurship and innovation throughout the state through aggressive creation of research and development, early-stage funding accessibility and managerial talent development. The TDL Program is expected to help 18 companies and reach a 3:1 leverage ratio.

Who is eligible to apply?

Eligibility is primarily evaluated on the following criteria:

  • Product/process development
    • Company should be early-stage, employ less than 25 people and show both financial need and potential for business growth
    • This phase is limited to $250,000 per company
  • Product/service commercial launch
    • Company should have completed concept and development testing and be raising money for initial launch into the primary market
    • This phase is limited to $500,000 per company
  • Growth/expansion rate
    • Company should be growing and showing recurring sales of the fully developed product, as well as be on its way to sustainability
    • This phase is limited to $750,000 per company

Companies also will be evaluated on the following: management team; financial projections; core business concept; innovative product, process or service; competitive advantage; market potential or customer validation.

How do I apply?

To apply, candidates must complete an application through a Technology Investment Manager. Following submission, an underwriter will put the application through the management review process. Learn more here.