What does WREF mean in FUNDS

The Wisconsin Rural Enterprise Fund (WREF) is a program administered by the Wisconsin Economic Development Corporation (WEDC) to provide financing for businesses in rural areas. WREF offers grant funding, working capital and debt financing with flexible terms tailored to the specific financial needs of rural business owners.

Businesses located within one of the designated rural counties in Wisconsin are eligible to apply for assistance through WREF. Specifically, WREF focuses on providing capital investments to agricultural producers, agribusiness processors, manufacturers and technology-focused companies in rural areas of the state.

Eligible businesses must submit an application and supporting documents through the online portal hosted by WEDC. All documents should be submitted as part of a complete package that outlines the project proposed, its' expected outcomes and a clear financial plan.

Yes, WREF also provides refinancing to help current businesses strengthen their operations or expand into new markets. Financing may be provided in the form of loans or grants depending on the specific need and purpose of the refinancing proposal.

Most counties in Wisconsin are categorized as “urban” or “rural” based on population density, as outlined by the U.S. Census Bureau's American Community Survey data from 2010-2014. A full list of counties considered “rural” according to this classification system can be found on the WEDC website under their programs & incentives section for more information about their eligibility criteria for potential applicants.

Yes, all applicants must have a physical address in one of the designated rural counties Wi sconsin prior to submitting an application; however, out-of-state capital may be used as part of an investment portfolio if approved by WEDC staff as part of their review process.

Yes - funds received via grants will only be applied towards short-term working capital expenses such as overhead costs and inventory purchases; whereas loans may also be used towards long-term fixed asset purchases including land purchases and building expansions/renovations. Funds cannot typically used to finance product launches unless it has been substantiated that product launch would result in additional jobs created within one year from start up date.

All applications must be submitted during open application periods — generally twice per year — with specific dates outlined on their program website under ‘Resources & FAQs' tab.

Yes - after submitting an initial application package with accompanying documentation through the online portal,disqualification notifications will typically sent out within 15 days regarding whether or not a business meets all required eligibility criteria set forth by this program.