We’re pleased to announce that LRC has partnered with the City of Racine to manage two new loan funds- a new Microenterprise Assistance Program that provides loans to Racine area businesses with five or less employees and a grant program created specifically for small business owners with an address along Washington Avenue from West Boulevard to the East and the City boundary to the West. To better support this program as well as future needs, we’ve opened a new office at 500 College Ave. in Racine.
“It’s an honor to be trusted by the City of Racine for this important loan program for small businesses,” said Terese Caro, LRC president & CEO. “Together, we’re working to make sure women, people of color and businesses effected by the road construction along HWY 20 have equal access to the capital their businesses need. This program is based on the pillar of equity and inclusion.” She added, “We also combine our flexible lending products with key technical assistance for businesses who qualify, so these clients have the financial acumen to sustain and grow their businesses.”
The City of Racine Forgivable Loan Program is designed to assist in the development and success of microenterprises in lower to moderate income areas. Loans are available up to $15,000 to qualifying businesses.
The West Racine Business Assistance Program is designed to assist small businesses in West Racine (see map for eligible businesses), which offers grants of up to $10,000 to cover anticipated expenses including payroll, inventory, equipment purchase, and rent/mortgage.
Upload your completed loan or grant application securely using the form below. A LRC staff member will contact you to request supporting documentation for the program that you’ve applied for.