GMF Partnership Helps Local Businesses Thrive
Through our expanded partnership with Greater Milwaukee Foundation (GMF), Legacy Redevelopment Corp. (LRC) has assisted in helping 17 local, minority-owned small businesses access the cash they need to better weather the COVID-19 pandemic. Along with our role as a loan closing agent for GMF’s ThriveOn Small Business Loan program, we’re pleased to now be the servicing agent as well. Through this vital initiative, LRC has closed and disbursed GMF-approved loan funds up to $50K per client, at a 2% fixed interest rate, with no interest or principal payments due for the first 12 months. Learn more about this program.
Recent national polling indicates 75% of all small businesses remain concerned about the virus’ impact on their business, a number that rises to 86% among business owners of color.