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

    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.

    In this edition of the Quarterly BLP Update, you will learn about refinancing using the SBA 504 Loan Program. Also included are examples of how BLP's administration of community loan programs has helped Racine County businesses throughout the pandemic.

    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.

    The U.S. Small Business Administration (SBA) visited the Village of Mount Pleasant’s O&H Bakery on Wednesday to award owner, Eric Oleson the 2020 Jeffrey Butland Wisconsin Family-Owned Business of the Year.

    In this edition of the Quarterly BLP Update, you will learn more about the SBA 504 Program, hear from businesses and banking partners who benefited from our programs, and discover the community loans and grant relief programs we’ve been administering to local businesses.

    https://vimeo.com/422823310 Community State Bank Senior Vice President, Steve Donovan and Market President, Nick Borth interview President of ATW Miller Group LLC, Todd Miller and Business Finance Manager of Business Lending Partners, Carolyn Engel to discuss SBA lending options for your…

    Burlington, WI – Tenured university professor. World-renowned portrait artist. And now entrepreneur, business owner and City of Burlington resident. Jean Dibble spent the last 35 years teaching art at various universities across the country. Wanting to relocate near her Kenosha…

    April 2020 SBA 504 Rates

    The purpose of this program is to assist Union Grove businesses negatively impacted by COVID-19 and support business retention until the economy stabilizes.

    The purpose of this program is to assist businesses negatively impacted by COVID 19 and support business retention until the economy stabilizes. Businesses must demonstrate they do not qualify for existing State or Federal programs; are in immediate need of funding until those programs become available; or that they are unable to obtain financing at reasonable rates and terms.

    Business Lending Partners has compiled a valuable list of financial resources for those Wisconsin businesses affected by COVID-19.

    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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