Through funding from Racine County, various programs were 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 and continued business growth as well as to provide jobs for Racine County residents.
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.
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.
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.
Industries of focus include but are not limited to:
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.