Please review the following to determine if your nonprofit business is eligible for a loan from LRC.
Eligible Borrowers: Any City of Milwaukee nonprofit 501(c)(3) organization, faith-based organization, cooperative, tribal entity, housing authority or community development organization that provides services to low- to moderate-income populations.
- 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 citizens
Please note that LRC does not make grants. All loans must be repaid with interest.
How to Apply
To apply for a nonprofit loan, download and complete a loan application and personal financial statement.
In addition, we will need the following documents to process your application:
- Debt schedule
- IRS determination letter stating 501(c)(3) status
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.
Glow 414, a nonprofit dedicated to empowering at-risk girls, purchased and restored a building in the Franklin Heights neighborhood with the help of an LRC loan.