Sheboygan Council Adopts Updated Business Revolving Loan Fund Rules
Sheboygan, WI — September 11, 2026
The Sheboygan Common Council adopted updated rules for the city’s Economic Development Loan Program, also known as the Business Revolving Loan Fund, during its September 8, 2026, meeting.
The action approved Resolution 99-26-27 and establishes a revised framework for Sheboygan businesses and entrepreneurs seeking city-backed financing. The updated program distinguishes between new and existing businesses, allows eligible working-capital expenses, and requires more detailed financial and business-plan materials.
Applications now need a 60-point score
Under the revised scoring system, applications must reach at least 60 points on a 100-point evaluation matrix. The prior 2015 manual used a 50-point minimum.
The scoring categories include projected employment, tax-base generation, private investment, neighborhood impact, local ownership and management readiness. Applicants will need to explain how a proposed project supports jobs, investment and the surrounding Sheboygan neighborhood.
Loan size and interest provisions
The updated manual sets a loan-limit standard of $35,000 per job. That figure helps evaluate loan sizing; it is not a guaranteed award or a wage subsidy.
Interest provisions are based on the prime rate or prime minus 1 percentage point, depending on the applicable program terms. Qualifying new businesses and expansions may also receive up to 12 months of interest-only payments, subject to the requirements in the current manual.
More documentation and follow-up
The revised rules clarify the materials applicants must provide, including financial information and business-plan details. Approved borrowers will also have annual reporting responsibilities tied to their commitments.
The manual includes clawback provisions connected to job commitments. These provisions allow the city to address situations in which required outcomes are not maintained after approval, according to the program rules.
Where local applicants can start
Businesses and entrepreneurs considering the program should review the current Economic Development Loan Program Manual, the revised scoring matrix and the application requirements before contacting the City of Sheboygan.
The city’s business funding page provides current program information and directs applicants to the appropriate city contact. The Sheboygan County Economic Development Corporation also offers local financing context and technical-assistance information, but the City of Sheboygan’s current manual controls this program’s requirements.
