RCEDC assists Racine County Businesses through the administration of several fixed rate, long-term Revolving Loan Fund Programs and Matching Grants. Through Business Lending Partners (BLP), the finance division of RCEDC, we partner with financial institutions throughout the State of Wisconsin to offer financing through the SBA 504 Loan Program. RCEDC has been operating as a financial resource since 1983 and is the only Certified Development Company (CDC) headquartered in Southeast Wisconsin.
RCEDC is committed to business growth and community development by providing alternative financing options.
A variety of community loan funds, often referred to 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.
Through funding from the Racine County, Burlington and Sturtevant, Matching Grant Programs (MGP) were established with the goal of providing a means for existing small and medium-sized companies to obtain the professional services necessary for a strong foundation for continued business growth and to provide jobs for our residents.
The U.S. Small Business Administration (SBA) 504 loan program was developed by Congress to assist growing businesses by offering an attractive financing option for real estate and equipment needs. The SBA administers the program with the objective of providing financing to projects that meet one of the following:
SBA 504 Loans provide long-term, fixed-rate financing options for real estate and equipment needs. Business Lending Partners (BLP) specializes in processing and servicing these loans throughout the State of Wisconsin.
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Meets Community Development Goals; or
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Meets Public Policy Goals
The purpose of the Racine County Community Development Block Grant – Coronavirus (CDBG – CV) is to provide economic relief for small businesses with five or fewer employees, that have experienced a negative impact on their business as a direct result of the pandemic. Because the source of the grant is from the U.S. Department of Housing and Urban Development (HUD) through its Community Development Block Grant program, a Low-to-Moderate-Income requirement will apply. This grant will not be available to businesses located in the City of Racine because the City received its own allocation directly from HUD.
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Applications can be downloaded here and must be submitted to grace@blp504.org. Applications will be processed on a first-come, first-served basis.
After a distinguished 30+ year career in machining and technical services, Victor (Vic) DeMeyer is embarking on a new chapter as the owner of Reyemed Technical Services (RTS) in Burlington. Specializing in precision CNC manufacturing, solid modeling design, and reverse engineering, RTS has state-of-the-art machinery and software to serve area manufacturers.
Lisa Rivers embarked on her entrepreneurial journey in 2022 to share her passion for preparing homemade food with others. Inspired by her childhood love of baking with an Easy Bake Oven, Lisa perfected her skills over the years by baking and cooking for family, friends, and co-workers. As her customer base grew, Lisa decided it was time to secure a fixed location for her business.
In 2018, after a full kitchen renovation, Spanky’s began serving their now-famous thin-crust pizza, which, along with other homemade favorites, helped cement their reputation as a neighborhood staple. By 2020, the Allens purchased the property they had been leasing, but demand soon outgrew the space. With carryout orders booming and long wait times becoming common, a larger facility became essential to meet growing demand and streamline operations.
RCEDC’s Business Growth Solutions event brought Racine County’s entrepreneurial spirit to life, drawing over 50 business owners, lenders, and community members for a celebration of local success.
The owner of Lavagio Express Laundry has over 20 years of experience that turned an entrepreneurial vision into reality with the opening of this modern laundromat in Mount Pleasant, WI.
The Racine County Economic Development Corporation (RCEDC) and its partner communities are proud to present a comprehensive overview of loans and grants specifically designed to support local small businesses.
Melissa Poeschel, with nearly 20 years of baking experience, founded Baking Bird and launched her bakery company in her home. With growing success, she and her husband Chris decided to expand their business into a commercial space in downtown Union Grove. In June 2022, Baking Bird opened and offered from-scratch baked goods like bagels, cupcakes, and cinnamon rolls.
TS Food Packaging, formerly known as RoJo’s Popcorn and Troystar Packaging, began with a focus on private-label popcorn portion packs. Under the leadership of Robin J. Vos, who took over the company in 1996, TS Food Packaging expanded its product line beyond popcorn, now offering seasonings, oils, and even non-popcorn products.
Cala Newholm, founder and owner of Modern Aesthetics Skincare, opened her medical skincare clinic in February 2022 in the Village of Waterford.
Jose Contreras Jr., began his career as a business owner in 2021 when he became the owner of Mexico Lindo, a 65-year old family-owned restaurant located in the City of Racine.
Paul Sanchez's entrepreneurial journey began in 2010 when he founded Righteous Autos Inc., an auto repair and sales business that began in a one-car garage near Downtown Racine.
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.
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.Â