If you or someone you know is interested in starting a business in the City of Sheboygan, we have many free consultation services that can assist. The City of Sheboygan is an investor in the Sheboygan County Economic Development Corporation (SCEDC). SCEDC has developed a relationship with the Small Business Development Center (SBDC). A representative of the SBDC keeps weekly office hours at the SCEDC office in the County Administration Center at North 5th Street and New York Avenue.
Through the partnership, the SBDC can provide entrepreneurs “Shark Tank” training, including: business plans, marketing plans, help with bank financing, and help with financial projections. These services are free to anyone interested in developing a business in Sheboygan County. Please contact the Sheboygan County Economic Development Corporation at 920-452-2479 to schedule an appointment to talk about your small business idea.
The City of Sheboygan has venues to assist with financing your business. In 1987, the City established a revolving loan fund to assist with new business start-ups and expanding businesses. This pool of funds is federally funded and funds are tied to new job creation goals. The Sheboygan Redevelopment Authority (RDA) administers this fund and recently raised the amount available for each new full-time position created from $10,000 per job to $25,000 per job. Being that the monies are federal, of the new jobs that are created, 51% of the new positions need to meet the low-to-moderate income (LMI) status based on the household income at the time of hire. The LMI threshold as an example for a family of four in Sheboygan is $55,000. Loans under this pool can range from $25,000 to $400,000 and the current interest rate is the APR rate of about 2.47%. The RDA recently made loans from this program to 3 Sheeps Brewery, Goodside Grocery, and the Black Pig. Currently this fund has $1.7M outstanding in loans to various businesses that are making monthly installments to pay the City of Sheboygan back.
New in 2015, the Redevelopment Authority created a Commercial Façade Loan Program to encourage façade renovations following the 8th Street Design Guidelines. To qualify businesses must be creating new full-time equivalent jobs and business must be located along Michigan Ave, 8th Street or Indiana Avenue. Loans can be up to $100,000 to reconstruct the front façade of the business. The loan is interest free for 10 years with no matching funds required.
Also, if your business is located along Michigan Avenue, 8th Street, or Indiana Avenue, the Planning and Development Department administers forgivable loans for Historic Preservation renovations of the façade of the building. The City could fund up to 100% of the design plan to bring the façade back to the original materials and then up to $20,000 for construction. If you have an interest in starting a business, I would encourage you to contact our Department of Planning and Development, 920-459-3383. The staff in the department can help you though the City approval process, answer questions, connect you with resources and make your transition to a new business an easy and convenient experience.
Small businesses are a critical component of and major contributor to the strength of our local economy. Since 1995, small businesses have generated 64 percent of the new jobs and paid 44 percent of the total United States private payroll, according to the Small Business Administration. Like many of the small start-up businesses in Sheboygan, they tend to attract talent who invent new products or implement new solutions for existing ideas. For more information on starting this process, please contact the Mayor’s office at 920-459-3317.
► Click for Sheboygan County Economic Development Corporation Resources