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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
Community Development Credit Unions
A Community Development Credit Union, more commonly known as a CDCU, is a credit financial institution which owned and controlled by its members in an effort to sustain the ability of being able to provide a wide array of financial services.
Small Business Administration's Recovery Capital Loans
The Recovery Capital Loans Program provides financial assistance to small business with less than 500 employees to obtain a deferred payment loan from the agency, in order to meet existing debt payments, thereby giving the business the opportunity to refocus their business strategy.
Social Entrepreneurship
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When it Comes to Social Enterprises, Failure is the Best Platform for Innovation
In the world of social enterprises, failure is a cringe-worthy moment nobody wants to talk about. But, social entrepreneurs can benefit from their failures.
