SSBCI - LCO
State Small Business Credit Initiative (SSBCI) Program
Small businesses on or near the Bad River Indian Reservation, and those in Wisconsin whose majority ownership is affiliated with the Bad River Tribe, can apply for small business loans through the Tribe’s State Small Business Credit Initiative (SSBCI) program. The SSBCI is a federally sponsored small business program that supports small businesses and entrepreneurship in communities across the United States by providing capital and technical assistance to promote small business stability, growth, and success. Please refer to the sections below that summarize the Tribe’s SSBCI program.
For more information, please contact the Wisconsin Native Loan Fund (WINLF) Inc. by phone at 715-588-1600 or by email at info@winlf.org. WINLF is a 501(c)(3) nonprofit organization and U.S. Treasury-certified Native community development financial institution (CDFI) that assists the Bad River Tribe in administering its respective SSBCI programs.
Lac Courte Oreilles (LCO) Tribal SSBCI
The LCO Tribal SSBCI program offers a Micro/Small Business Loan Participation Program and a Tribal Enterprise Loan Participation Program.
Eligibility
Micro/Small Business Loan Participation Program: Individual entrepreneurs located in LCO or are enrolled members of the LCO Tribe. The program will prioritize Tribal members living within reservation boundaries, but eligibility will include secondary priority to Tribal members living off-reservation in Wisconsin, and lastly, priority for non-Tribal member-owned businesses operating on or near LCO reservation boundaries.
Tribal Enterprise Loan Participation Program: The majority- or wholly-owned enterprises of the LCO Tribe are eligible to participate.
Matching Funds
Each program requires the borrower to have matching funds equal to or greater than the SSBCI loan amount. These funds can be from a matching loan through WINLF, one of its partners, your bank, or many non-federal funded sources. Federal-funded grants are not eligible to be used as matching funds. All funding sources not provided through WINLF will need to be vetted by WINLF to make sure they qualify under the terms of the SSBCI program. If you do not have matching funds, WINLF will be happy to try to help you acquire approved matching funds.
Maximum/Minimum Investment Amounts
Micro/Small Business Loan Participation Program: Minimum loan participation of $2,500 and maximum of $200,000 for borrowers.
Tribal Enterprise Loan Participation Program: Minimum of $50,000 and a maximum of up to limits as stipulated by the Department of Treasury.
Other
All loans will be standard term loans, not exceeding market rate interest, and loan terms will be dependent upon the individual business/borrower or enterprise in accordance with LCO Tribally developed MSBLPP and TELPP guidelines and policies and procedures in accordance with SSBCI regulations.
Borrowers will be required to seek private funds prior to qualifying for LCO Tribal SSBCI funds. This allows the investor or lender not in relation to the tribe or tribe's program to have a meaningful amount of capital at risk as will be mandated in the LCO Tribal SSCBI program guidelines to be developed.
Eligibility
Micro/Small Business Loan Participation Program: Individual entrepreneurs located in LCO or are enrolled members of the LCO Tribe. The program will prioritize Tribal members living within reservation boundaries, but eligibility will include secondary priority to Tribal members living off-reservation in Wisconsin, and lastly, priority for non-Tribal member-owned businesses operating on or near LCO reservation boundaries.
Tribal Enterprise Loan Participation Program: The majority- or wholly-owned enterprises of the LCO Tribe are eligible to participate.