Community Loans

Ideal when projects costs are 

$25,000 to1,000,000

A variety of community loan funds, often referred to as Revolving Loan Funds (RLFs), are available to growing businesses in Racine County with financing needs. These are direct loan programs that usually do not require you to partner with another financial institution to create a financing package.

Reduced Equity Requirements

Reduced Interest Rates

Flexible Loan Terms

To qualify for an RLF the company typically needs to be creating or retaining jobs in the community or providing some other community benefit. Each RLF has different criteria and our dedicated staff can determined the ideal loan for your business.

Why Community Loans?

Benefits

  • Flexible Loan Terms
  • Below Market Interest Rates
  • As Low As 10% Down Payment
  • No 3rd Party Lender Required*
*In most cases

Use of Funds

  • real estate purchase
  • construction/renovation
  • Equipment purchase
  • Leasehold improvements
  • Other uses may be considered

    Current Communities Providing Loan Programs

    Racine County Logo

    Racine County

    racine

    City of Racine

    City of Burlington Logo

    City of Burlington

    sturtevant

    Village of Sturtevant

    union grove

    Village of Union Grove

    waterford

    Village of Waterford

    Recent Business Financing News

    Priscella K. White, a seasoned healthcare professional, started her business, Above & Beyond Adult Family Home (Above & Beyond), in 2011. The business was established to provide full-time care for elderly individuals with disabilities.

    Trene McCaskill, owner of H.E.R. Valley - a self-care and revitalization service in Racine - will celebrate the grand opening of her new location at 904 State St. on July 9th at 11:45 a.m.

    In a 4-part video series RCEDC Staff, Andrea Safedis and Wesley Walsh, explain what who and how community loans, also known as Revolving Loan Funds (RLFs), work.

    Burlington, WI - The Royal Canine is a unique self-service dog washing boutique that opened in October 2023 in downtown Burlington. Andora Byrne, its owner, is a true animal lover and wanted to provide dog owners with a convenient alternative…

    Racine, WI – Lisa Ramirez opened Blueberry Hilltop Cafe on October 2023 with the goal of providing home-cooked meals in a family-friendly atmosphere.

    In a 2-minute video RCEDC Staff, Andrea Safedis and Wesley Walsh, explain what who and how the Matching Grant Programs (MGP) work.

    Sturtevant, WI – Bolstered by the acquisition of three loans from RCEDC and the receipt of a Sturtevant grant, M&J Krueger Trucking has been able to sustain growth and development at its current location.

    Flitz International contacted RCEDC to secure a low-interest, low-downpayment equipment loan. In addition to the $200,000 loan, the company also applied and received a Racine County matching grant.

    Racine County, Wisconsin – Burlington’s Skyline Landscape Design and Racine’s Renew Medical Aesthetics, both women-owned, recently expanded their businesses by utilizing Business Lending Partner’s (BLP) financial resources.

    In 2020, amidst the economic challenges resulting from the pandemic, the US Economic Development Administration (EDA) was charged with administering the CARES Act Recovery Assistance. The program was designed to provide a wide-range of financial assistance to communities, like Racine County, to help recover from the impacts of the pandemic.

    Legacy Redevelopment Corporation in partnership with the City of Racine are offering loans to small for-profit
    businesses that are owned and operated in the City of Racine.

    RCEDC and its finance team, Business Lending Partners (BLP), in partnership with Fox Communities Credit Union, has assembled an unparalleled lineup of industry experts, self-made entrepreneurs, and business leaders to deliver an event tailored to business owners, the commercial lending community and real estate professionals. Food included.

    INVEST IN RCEDC

    RCEDC’s mission is to grow Racine County’s property tax base and by supporting business expansions, provide employment opportunities to Racine County residents. In 2022, RCEDC staff were able to facilitate 105 projects that included comprehensive site selection, loans, grants, and incentives resulting in $289 million in private investment and $124 million in new construction

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