Taj Pearsall, owner of the Buffalo Boss restaurant at the Sherman Phoenix hub, received an LRC loan to help fund the launch of his new business.
Please review the following to determine if your nonprofit business is eligible for a loan from LRC.
Eligible Borrowers: Any City of Milwaukee for-profit business or individual.
- Have a primary mission of promoting community development or facilitating positive social impact among low-income people or communities
- Show that the use of the loan is consistent with LRC’s mission
- Demonstrate the ability to use LRC’s capital productively and repay LRC
- Have inadequate access to capital through traditional sources
Borrower’s target population served:
- Low-to moderate-income individuals
- Minorities or female-headed entities
- People with disabilities or the homeless
- Senior citizen
Please note that LRC does not make grants. All loans must be repaid, with interest.
Your loan application also requires these documents:
- Debt schedule
- Article of incorporation and bylaws for corporate entities
- Articles of organization and operating agreement
- Borrowing resolution
LRC charges a one-time $50 fee per loan application. For your convenience, you may securely pay this amount through PayPal and send your application documents using the form and button on the right. Once we receive your payment and completed documents, an LRC team member will contact you for additional information to advance your application to underwriting.
Questions on the above? Call us at 414-343.0163.