New Downtown Racine Business Attraction Loan Program
Up to $250,000 available to bring businesses downtown
Racine, WI – Racine County Economic Development Corporation (RCEDC), the City of Racine, and the Downtown Racine Corporation (DRC), introduce the Downtown Racine Business Attraction Loan Program, a new financing resource designed to help businesses establish a street-level presence, activate vacant storefronts, and invest in Downtown Racine. The program will provide qualified applicants with access to a low-interest, 50% forgivable loan to help eligible businesses open a new storefront.
“The Downtown Racine Business Attraction Loan Program will provide low-interest capital to businesses who want to be where the action is, who can fill empty storefronts, and who share a vision of a thriving downtown as an asset to our community. I am grateful for the work of RCEDC and the Downtown Racine Corporation in making this collaboration to support our small businesses a reality.” – Mayor Cory Mason, City of Racine
By reducing upfront financing barriers, the program is intended to fill vacant commercial spaces, expand the downtown business mix, and encourage sustained private investment. The program will prioritize businesses that complement existing downtown offerings, create consistent customer traffic, and contribute to a vibrant, welcoming district.
- Qualified businesses may access low-interest financing of up to $250,000 to support the opening of a street-level storefront in Downtown Racine.
- Borrowers may be eligible for up to 50% loan forgiveness, helping reduce upfront investment costs and support long-term business success.
- Priority consideration will be given to retail businesses, restaurants, and existing business owners that complement downtown offerings and help create consistent customer traffic.
- Eligible projects must be located within the Downtown Racine Business Attraction Loan Program boundary area identified on the program map.
- The loan program is available starting in October 2026 and will close when funding is fully distributed or September 2027, whichever occurs first.
“This new loan program gives us another valuable tool to attract businesses, fill vacant storefronts, and continue building a strong and vibrant Downtown Racine,” said Kelly Kruse, Executive Director of the Downtown Racine Corporation. “Opening a brick-and-mortar business requires a significant investment, and programs like this can help remove some of those barriers while encouraging job creation and long-term investment in our downtown.”
How to Apply:
Interested businesses should review the complete program guidelines in the Downtown Racine Business Attraction Revolving Loan Fund document, available for viewing on this page and for download below. Funding is limited, and applicants are encouraged to apply early. Questions and completed applications may be directed to Andrea Safedis at Andrea@rcedc.info and Todd Schalinske at Todd@rcedc.info.