About this programme
The Technology Development Loan (TDL) program is venture debt from the Wisconsin Economic Development Corporation (WEDC) for early-stage companies building innovative, technology-driven products or services. It is meant to bridge the funding gap that exists before a company can access traditional financing.
WEDC describes the loan as accelerating a company's path from concept to market, supporting concept development, prototyping, commercialization and market analysis. Joey Frayne, WEDC's Technology Investment Manager, runs the program.
How it works
TDL provides a loan of up to 20% or less of an investment round, structured with warrants attached. WEDC designs the loan to complement an equity round rather than replace it, and tailors terms as a company progresses through its development cycle.
The loan is meant to help a company hit milestones that support future equity rounds, alongside private investment the company is able to bring in.
Who can apply
WEDC weighs a demonstrated funding gap and a real need for venture debt, the company's capacity to bring in private investment alongside the loan, and the strength and experience of the management team.
The company should show a clear path to commercialization and scaling, and potential for long-term economic impact in Wisconsin.
How to apply
- Review the Program Guidelines (PDF) and Loan Information sheet available from WEDC.
- Contact Joey Frayne, WEDC's Technology Investment Manager, at joey.frayne@wedc.org or 608.210.6700.
Documents you’ll typically need
- Program Guidelines (PDF)
- Loan Information sheet (PDF)
Frequently asked
How much can the Technology Development Loan cover?
Up to 20% or less of an investment round, structured as a loan with warrants attached.
Does this loan replace an equity round?
No. WEDC structures it to complement an equity round, not replace it.
What does WEDC look at when deciding whether to fund a company?
A demonstrated funding gap, the company's ability to bring in private investment alongside the loan, management team strength, a clear commercialization path, and potential long-term impact for Wisconsin.
Who manages this program at WEDC?
Joey Frayne, WEDC's Technology Investment Manager, at joey.frayne@wedc.org.
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All 5 programmes in Wisconsin →
Reviewed 2026-09-25. Programmes change, so check eligibility, amounts and deadlines on the official page before you apply. CapEasy is a private firm and is not part of any government body.