Racine, WI – The City of Racine Road Construction Loan Program provides 0% interest working capital loans of up to $5,000 to businesses negatively impacted by construction occurring in the City of Racine.
The targeted area includes those businesses located on or near Washington Ave. between Roosevelt Ave. and West Blvd. However, other areas in the City will be considered if the business is being impacted by road construction.
“We are confident this program will provide the much-needed relief to businesses impacted by the ongoing road construction projects,” said Mayor Cory Mason, City of Racine. “I encourage any business located in or near the construction zones to apply for this program.”
The program was designed by the Racine County Economic Development Corporation (RCEDC) in partnership with the City of Racine. Funding for this program comes from the Racine Development Group (RDG), which includes the following investors: BMO Harris Bank, Johnson Financial Group, JP Morgan Chase Bank, RCEDC, S.C. Johnson, Tri City National Bank, US Bank, and Wells Fargo Bank.
There is a total of $50,000 available for this program. Loans will be accepted, processed and distributed on a first-come, first-serve basis.
For businesses interested in applying for the program, please contact RCEDC’s Akayna Morrison at akayna@blp504.org or (262) 898-7434.
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This program is intended to assist businesses affected by the construction taking place in the City of Racine. Our goal is to only provide the minimum level of assistance needed to make projects feasible through forgivable loans, and to utilize interest bearing loans.