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.

    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:

    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.

    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.

    Recent Business Lending Partners News

    SBA 504 Rates January 2022

    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.

    Asphalt Contractors Inc. (ACI), owned by Robert, Robert Jr. and Peter Kordus, a once primary sealcoating operation, recently evolved into the largest company of its kind in Southeast Wisconsin - using the SBA 504 loan program

    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.

    SBA 504 Rates October 2021

    The Business Growth Solutions Series is a 3-part video educational experience designed for small business owners, commercial lenders, real estate professionals and anyone in a position to help Wisconsin businesses grow.

    The Racine County Economic Development Corporation (RCEDC) is pleased to welcome two
    new professionals to its lending staff, Dillon Voltz and Akayna Morrison.

    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.

    Linda and Eli Bracha, owners of Wis-Tek, CPT and Green Tek, saw the U.S. Small Business Administration's 504 program as an opportunity to purchase equipment, renovate their current Janesville facility and expand to an additional location, near Clinton.

    Join BLP at the 31st Annual Wisconsin Lenders Conference on May 20th and 21st.

    April 2021 SBA 504 Rates

    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.

    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. Over the last three years the RCEDC staff assisted 72 projects that, when completed, will result in 1,000’s of new full time jobs, and will substantially boost local property tax revenues. Your investment allows RCEDC staff to continue these positive efforts.

      INVESTMENT LEVELS

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