Legacy Redevelopment Corporation (LRC), a U.S. Treasury-certified community development financial institution (CDFI) that has been providing strategic lending solutions to underserved Milwaukee markets since 2003, now provides financial assistance to struggling Racine small businesses.
The organization has partnered with the town of Racine to manage a new microenterprise assistance program that provides loans to businesses in the Racine region with five or fewer employees. In order to better support this program as well as future needs, LRC has opened an office at 500, avenue du Collège in Racine.
“We are delighted that the Town of Racine has placed their trust in us for this important small business loan program,” said Terese Caro, President and CEO of LRC. “Running a small business in normal times is tough enough, let alone a sustained pandemic. She added, “We know that many small businesses are still struggling to keep their doors open and retain their staff, and we believe this program will provide much needed relief.”
According to Caro, the program is aimed at established small businesses that have faced challenges due to the COVID-19 pandemic. Loans are available up to $ 20,000 for qualifying businesses.
For more information on the Small Business Loan Program, please visit LRC’s website, www.lrcmke.com.