New Funding Available to Waterford Businesses Impacted by Construction
WATERFORD, WI – In partnership with the Village of Waterford, the Racine County Economic Development Corporation (RCEDC) allocated $60,000 to support Waterford businesses impacted by the highway construction projects on STH-20, STH-83 and STH-36.
“I think I can speak for the Village when I say the end of road construction will be a welcomed relief,” said Don Houston, President of the Village of Waterford. “In the meantime, I greatly appreciate the resources provided by RCEDC and I encourage those small business who are impacted to apply.”
New or existing, for-profit businesses impacted by road construction can apply for a working capital loan. Loans of $5,000 per applicant for each calendar year (2019 and 2020) during the construction activities are available to businesses. Repayments will be deferred until December 31, 2020 at 0 percent interest. The application process is simple and limited to completing a Personal Financial Statement document.
“We greatly appreciate our partnership with Waterford in supporting their economic development activities, and small businesses are part of that ecosystem,” said Carolyn Engel, Business Finance Manager of RCEDC’s finance division Business Lending Partners (BLP). “We look forward to fully exhausting these resources to support Waterford’s commercial corridors.”
Business Lending Partners (BLP) is a U.S. Small Business Administration (SBA) Certified Development Company (CDC) specializing in processing and servicing SBA 504 loans throughout the State of Wisconsin. BLP is headquartered in Southeast Wisconsin and has been certified since 1985. As a division of the Racine County Economic Development Corporation (RCEDC), BLP has knowledge and access to local, State and Federal partners to successfully assist you in completing your project.
For more information about this project and how your company may be eligible for similar incentive programs, contact Carolyn Engel at 262-898-7420 or visit blp504.org.