The Sheboygan County Economic Development Corp. is launching a new product development loan program aimed at helping startups and emerging businesses bring ideas to market.
The program is part of SCEDC’s Accelerate Sheboygan County initiative. It offers up to $10,000 for research and development, proof of concept and prototype creation work; up to $25,000 for market entry and initial sales efforts; and up to $25,000 to help with scaling production and ensuring long-term profitability.
To be eligible, a business must be based in Sheboygan County and demonstrate economic viability with potential to create local jobs and scale beyond the local market.
Early-stage companies are eligible for the $10,000 loan for product and process development. Later stage companies are eligible for the larger loans.
“We’re committed to supporting innovation and nurturing startups,” said Justin Vannieuwenhoven, chair of SCEDC’s Innovation Council. “The Product Development Loan program is a great example of how we can help businesses overcome early challenges and set themselves up for long-term success.”
