Community Loans Projects

On Saturday, December 4th, Tom and Sue Haman celebrated the grand opening of their new Culver’s location on Douglas Avenue, across from O&H Danish Bakery and Starbucks.

Dan Gallagher started Mybread Bakery with a mission to provide gluten-free breads that are safe for those with food allergies, but not compromise taste or quality. Three years later, Gallagher relocated from Chicago to Racine – with help from the Racine County Economic Development Corporation – and expanded operations by renting a larger space, purchasing better machinery, and hiring additional employees.

A new Revolving Loan Fund (RLF) program was capitalized by Racine County to support local companies impacted by the Foxconn development in Mount Pleasant, Wisconsin. The new program is referred to as the Greater Racine County RLF.

With infrastructure improvements completed and development plans in place, the Village of Waterford and a few of its local businesses are utilizing RCEDC resources to spur recent development activity.

RCEDC’s most recent Zero Loan Program recipients, Terri and Michael Bannon, owners of Razor Sharp Fitness, used the funds to purchase new fitness equipment, which they anticipate will increase memberships and alleviate the effects from the pandemic.

One of the City of Burlington’s newest businesses, The Loop Commons, announced their official opening on Facebook (January 11, 2021). The Loop Commons is a historic building revived for modern endeavors, and includes co-working space, a photo studio, a podcast studio, conference rooms, private offices, event space, a coffee shop, and coming spring 2020, a climbing gym.

Darius Szczekocki, president of Hestia Heat Treat in Racine, will use a $100,000 pandemic recovery loan to purchase new equipment to seek more work with automotive industry clients.

Case High School graduate and Milwaukee Brewers former draft pick, Lee Jaramillo now owns Northterra Real Estate Group. Jaramillo recently used RCEDC’s High Impact Revolving Loan Fund for interim financing to construct the new O&H Danish Bakery on the corner of Douglas Avenue and 4 Mile Rd.

The City of Racine houses many businesses in a variety of industries, serving its residents and the surrounding communities. However, the challenges posed by the COVID-19 pandemic were severe and required creative, flexible solutions to ensure the retention of these valuable assets in the City.

When Low Daily Brewery owners, Tim and Claire Sullivan moved from the Pacific Northwest to Burlington, RCEDC provided development assistance in a variety of capacities, including local and state incentive as well as an SBA 504 loan for building renovations and equipment purchasing.