Finance Solutions

Business Lending Partners (BLP) is the Business Finance Division of RCEDC. BLP assists companies within Racine County through the administration of several fixed rate, long-term Revolving Loan Fund Programs and Matching Grants. BLP also partners with financial institutions throughout the State of Wisconsin to offer financing through the SBA 504 Loan Program. BLP has been operating as a division since 1983 and is the only Certified Development Company (CDC) headquartered in Southeast Wisconsin.

BLP is committed to business growth and community development by providing alternative financing options.

Loan Programs & Grants

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, as well as, various Community Loan Programs.

SBA Loan Programs

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:

Community Loan Programs

A variety of community loan funds, often referred to Revolving Loan Funds (RLFs), are available to growing businesses with financing needs. These are direct loan programs that partner with the customer’s financial institution to create financing packages that offer reduced cash equity requirements for the business, reduced interest rates and flexible loan terms on the RLF loan.

Racine County Matching Grant Program

Through funding from the County of Racine, a Matching Grant Program (MGP) was 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 Racine County residents.

Grant reimburses up to 50% of eligible cost – up to $5,000 per applicant.

Racine County Community Development Block Grant Program (CDBG-CV)

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.

Applications can be downloaded here and must be submitted to grace@blp504.org. Applications will be processed on a first-come, first-served basis.

Recent Business Lending Partners News

patton law office grand opening ribbon cutting in the city of racine funded by business lending partners

Patton Law Office purchases, renovates Racine building using privately funded local loan program

After renting offices and working from home for a year, Attorney David Patton, owner of Patton Law Office - a boutique law firm serving Racine and Kenosha Counties - purchased and renovated the building at 1636 Taylor Ave in Racine, Wis.

brown family chiropractic mount pleasant

Brown Family Chiropractic expands by purchasing Mount Pleasant building

Following nearly 10 years of building clientele, advancing the practice, and leasing space, Dr. Sally Brown and her daughter, Dr. Tera Pfarr, purchased a 6,000-sf building to expand the business operations of Brown Family Chiropractic in the Village of Mount Pleasant

EVENT: Not Another Lunch and Learn

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.

Food for Thought: An RCEDC Business Growth Event

Join RCEDC as we host this food and business networking event, where local business owners share their stories about how they navigated the path to success.

Racine County MGP helps H.E.R. Valley grow, leading to grand opening of new location

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.

samantha stanko owner of nonna wells pizzeria sturtevant wisconsin

New, favorable finance options now available for Sturtevant businesses in TID #4

To help encourage business improvement, retention and attraction, the Village of Sturtevant created a new program with favorable loan terms - little to no equity requirement, low-interest, and principal deferrals.

Empowering Small Businesses

EMPOWERING SMALL BUSINESSES A Business Growth Solutions Event RCEDC and its lending staff, Business Lending Partners (BLP), in partnership with Community State Bank, assembled a remarkable lineup of entrepreneurs, small business owners, and financial professionals to share relevant insights on…

emily allyn owner of beauty and brow artistry union grove wisconsin

RCEDC approves $72k in grants for Racine County businesses, $330k still available

The newest Racine County grant, the Community Development Block Grant Program (CDBG) was launched in late 2021. Nearly $72,000 has been approved for businesses throughout Racine County that were negatively affected by the pandemic. Fortunately, there is still $330,000 available.

creative welding and fabrication burlington wisconsin

Creative Welding & Fabrication uses SBA 504 to purchase building, secure tenants, create jobs

Creative Welding & Fabrication previously leased most of the space at 120 Industrial Drive in Burlington. After learning about the U.S. Small Business Administration's (SBA) 504 program, owners Roger Baumeister and Jeremy Uhlenhake decided to purchase the building, which allowed them to expand operations and begin collecting rent from existing tenants.

LEADERSHIP COUNCIL SERIES: Small Business Funding Solutions

Raising capital to grow your business can be challenging. Should you use debt? What programs are available through RCEDC? Are there more options? Join RCEDC as we explore the opportunities from venture capital to determine when this solution is the…

SBA 504 Rates | January 2022

SBA 504 Rates January 2022

Jellystone Park Franchise Names Caledonia Location as Camp Resort of the Year 2021

This year, Jellystone Resort in Caledonia was named the "Resort of the Year" by the Jellystone franchise. This award is given to one location per year and the Jellystone franchise is especially happy about the expansion and projects Jellystone Caledonia has completed the past couple of years to aid in the client's demands for the park.

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.