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Milwaukee Economic Development Corporation
Milwaukee WICDFI Awards for Milwaukee Economic Development Corporation
NMTC (2009) - $25,000,000
Milwaukee Economic Development Corporation (MEDC) will use its NMTC allocation to increase the amount of low-interest loans to businesses and real estate developers for asset purchases, real estate development, and mixed-use developments in Milwaukee’s low-income communities where the need is the greatest and the access to capital is limited. MEDC lends predominantly to minority businesses, using a revolving loan fund which allows it to increase assistance beyond the allocation. Favorable terms will include: below-market interest rates, no fees, interest-only payments until expiration, higher than market loan-to-value ratios and amortization periods, and very low debt service coverage ratios.
NMTC (2008) - $50,000,000
Milwaukee Economic Development Corporation (MEDC) will use its NMTC allocation to make loans to businesses and real estate developers at below-market rates for asset purchases, real estate development, and mixed-use developments. MEDC uses a revolving loan fund so additional dollars and businesses get assistance beyond the original amount provided for with an allocation. MEDC will offer favorable terms on its loan products, including below-market interest rates; no fees, interest-only payments until expiration; higher than market loan-to-value ratios and amortization periods; and, very low debt service coverage ratios.
NMTC (2005) - $18,000,000
The NMTC allocation will allow Milwaukee Economic Development Corporation"s (MEDC) to increase its loan volume and maximum loan size, and to further reduce the interest rate to its borrowers to as low as 4-5 percentage points below market.
Other Community Development Financial Institutions in Wisconsin
Community Assets for People
Stevens Point
Dane Fund, Inc., The
Madison
First American Capital Corporation
West Allis
Lac du Flambeau Chippewa Housing Authority
Lac du Flambeau
Legacy Bancorp, Inc.
Milwaukee
Legacy Bank
Milwaukee
Legacy Redevelopment Corporation
Milwaukee
M&I New Markets Fund, LLC
Milwaukee
NiiJii Small Business Loan Fund, Inc.
Lac du Flambeau
SCI-TECH DEVELOPMENT
Milwaukee
Waveland Community Development, LLC
Milwaukee
Ways to Work
Milwaukee
Wigamig Owners Loan Fund
Lac du Flambeau
Featured Government Grant Resources
Program for Investment in Micro-Entrepreneurs Technical Assistance
The Program for Investment in Micro-Entrepreneurs Technical Assistance Program is designed to decrease the number of disadvantaged micro-entrepreneurs by helping them enhance their management capabilities, by way of providing them with technical assistance and training in the areas concerning activities that are associated with starting, expanding and growing their businesses.
What Are Opportunity Zones
Opportunity Zones are an economic development tool that allows people to invest in distressed areas in the United States.
Social Entrepreneurship
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Building a Million Dollar Company Where Everyone Counts
Ganesh Natarajan is the Founder and Chairman of 5FWorld, a new platform for funding and developing start-ups, social enterprises and the skills eco-system in India. In the past two decades, he has built two of India’s high-growth software services companies – Aptech and Zensar – almost from scratch to global success.
