Community Loans

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 a financing package that overall offers:

Reduced Equity Requirements

Reduced Interest Rates

Flexible Loan Terms

To qualify for an RLF the company typically needs to be creating or retaining jobs in the community or providing some other community benefit. Each RLF has different criteria which can be found below.

    Why Community Loans?

    Benefits

    Eligible Use of Funds

    Recent Business Lending Partners News

    For the last few years, the financing needs of Wisconsin businesses have been on the rise. To meet the challenge, Business Lending Partners (BLP), the financial division of the Racine County Economic Development Corporation (RCEDC), has added staff.

    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.

    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.

    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.

    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 & 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.

    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

    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

    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 2021, RCEDC staff were able to facilitate 95 projects that included comprehensive site selection, loans, grants, and incentives resulting in $360 million in private investment and $210 million in new construction. These business expansion projects will result in 500 new full-time jobs.

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