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Wausau committee approves McDevco microloan guidelines to expand small business lending
Summary
The Economic Development Committee unanimously approved microloan program guidelines with McDevco to provide gap financing—loans up to $25,000 at 3% interest and no prepayment penalty—to support small businesses, particularly those unable to secure bank credit.
The Economic Development Committee voted unanimously May 6 to approve microloan program guidelines developed with McDevco (MCDEVCO) to provide gap financing to small businesses in Wausau and Marathon County.
City staff said the microloan program, initially funded with block‑grant and city revolving funds, addresses financing gaps for small purchases—inventory, equipment or minor building work—that can…
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