Loan Calculator
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The information provided by these calculators is for illustrative purposes only and accuracy is not guaranteed. The default figures shown are hypothetical and may not be applicable to your individual situation. Be sure to consult a BLP financial professional prior to relying on the results.

This calculator does not have the ability to pre-qualify you for any loan program. Qualification for loan programs may require additional information such as credit scores and cash reserves which is not gathered in this calculator. Information such as interest rates and pricing are subject to change at any time and without notice. This calculator does not calculate the Annual Percentage Rate or Average Prime Offer Rates. BLP does not guarantee any of the information obtained by this calculator.

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Racine County

Racine County funds

Business Lending Partner offers Racine County businesses many established programs to help obtain the funding they need to develop and benefit the community.  

zero loan program

The U.S. Economic Development Administration (EDA) entrusted RCEDC to provide financing for Racine County small businesses affected by COVID-19. The goal of this program is to keep workers employed, stabilize businesses, and strengthen our economy. Through this program RCEDC provides essential financing for businesses to continue investing, and creating/retaining jobs, in Racine County.

 

Business Lending Partners (BLP) provides up-front eligibility screening services to determine if a small business meets the general criteria to qualify for a loan.

LOAN TERMS AND ELIGIBILITY

Economic Development Admin. (EDA) Fund

This program was designed specifically to assist businesses in Racine County by offering a revolving loan fund in partnership with a bank loan. The program primarily finances real estate projects, equipment purchases and limited working capital needs. The fund offers a below market interest rate, generally 75% of Prime. Its participation cannot exceed either $200,000 or 33% of the total eligible project costs.

Parameters

Fees

Terms

Note: The term of the loan depends upon the items being financed.

Matching Grant Program (MGP) Fund

GRANT REIMBURSES UP TO 50% OF ELIGIBLE COST –
UP TO $5,000 PER APPLICANT

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.

bon voyage ribbon cutting

Step #1: All of the following must apply

Partner Organizations:
  • RCEDC (Racine County Economic Development Corporation)
  • Gateway Technical College
  • RAMAC (Racine Area Manufacturing and Commerce)
  • Eligible Independent Consultant
  • WWBIC (Wisconsin Women’s Business Initiative Corporation)
  • SBDC (Small Business Development Center)

Step #2: One of the following must apply

Greater Racine County (GRC) Fund

The Greater Racine County Revolving Loan Fund (GRC-RLF) program was designed specifically to assist existing businesses in Racine County that are affected by the Foxconn development. Additionally, the GRC-RLF is aimed to assist with recruitment of new businesses to Racine County that have a connection to Foxconn or to assist potential suppliers to automate and grow in order to compete for Foxconn business.

ELIGIBLE BUSINESSES

Industries of focus include but are not limited to:

Rates & Terms

Fees

Eligible Use of Funds

Note: The term of the loan depends upon the items being financed.

Racine Development Group (RDG) Fund

The Racine Development Group (RDG) created a loan fund to promote business development and real estate projects in Racine County, with emphasis on low- and moderate- income neighborhoods. Contributing members include Chase Bank, Johnson Bank, BMO Harris Bank, RCEDC, S.C. Johnson, Tri City National Bank, U.S.  Bank and Wells Fargo Bank.

Eligible Project Costs

Parameters

Fees

Rates & Terms

Note: The term of the loan depends upon the items being financed.