The City of Madison’s Economic Development Division is showcasing some of the programs and resources available to local business owners during National Small Business Week. One such program is Kiva, a crowdfunding platform that offers loans to small business owners and startups at 0% interest. Through Kiva, new business owners can receive up to $15,000 in crowd-funded loans. The City of Madison also offers a match program for Kiva loans for businesses that work with designated community partners, allowing qualifying businesses to access an additional match loan of up to $7,500. Eligible partners include the Madison Black Chamber of Commerce, the Hmong Chamber of Commerce of Wisconsin, and other local business organizations.
JustVeggiez, a restaurant, catering, and vending services company located downtown in a building built in the late 1800s, was able to participate in the Building Improvement Grant program offered by the City of Madison. This grant helps business owners cover capital costs associated with renovating the interior and exterior of their retail spaces, allowing them to stay in their current locations longer and establish roots in the community. JustVeggiez received $50,000 from the City to help cover renovation costs.
In addition to these resources, the Office of Business Resources has also recently launched a new initiative called “Grow Madison,” which aims to support local entrepreneurs by providing mentorship opportunities and access to funding for their businesses. Funding for this initiative comes from private donations as well as grants provided by various government agencies such as SBA and EDA. To learn more about Grow Madison or any other programs or resources available through the Office of Business Resources