Financing – Debt
MEDC offers a Second Mortgage Loan Program to businesses in the city of Milwaukee. A bank must fund 50% of the project, MEDC will do 40% and the borrower must provider 10% equity. Eligible projects are the purchase and construction of real estate, purchase of equipment.
New in 2012 is the Venture Debt Program that will match a loan or debt financint with private equity investments. Eligible firms must be in an emerging growth market with a sustainable competitive advantage. Applicant must also be generating revenue although positive cash flow is not required. See www.medconline.com for more info.
Financial Resources
MEDC also offers the Capital Access Program utilized by bankers to provide loans to small businesses.The borrower must meet the credit criteria of the bank but the CAP mitigates the bank risk for a new business or when there’s a collateral shortfall. It works well for small loans and lines of credit. See your banker for an application. This is not available statewide in collaboration in with Wisconsin Business Development..
Financing - Grants
The City of Milwaukee offers a Facade Grant and Retail Investment grant to businesses who meet the critiria. New in 2011 are energy grants for small commercial properties. See www.mkedcd.org for details.
Overview:
The Milwaukee Economic Development Corporation provides low interest financing to businesses in the City of Milwaukee and Milwaukee 7 region.
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