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MEDC Revolving Loan Fund

Milwaukee, WI (2017)

MEDC provides low cost, long-term, subordinate capital to operating businesses in the City of Milwaukee through the its NMTC Revolving Loan Fund product.

COMMUNITY IMPACT
  • 3 FTE jobs
  • 1 construction jobs
FINANCING SOURCES
  • NMTC amount: $250,000
  • Total Project Costs: $610,000
  • CDE:
PROJECT LOCATION

1849 North MLK Drive

Milwaukee, WI 53212

Project Description

MEDC provides low cost, long-term, subordinate capital to operating businesses in the City of Milwaukee through the its NMTC Revolving Loan Fund (RLF) product. We fund fixed asset purchases for land, buildings, and equipment for small to medium-sized businesses (average loan sizein the loan pool is $400,000) experiencing financing gaps. MEDC’s loans address the significant unmet need for capital in Milwaukee where environmental contamination and industrial abandonment has created high levels or poverty and unemployment. It also allows MEDC to provide more flexible underwriting standards that allow for lower interest rates and longer amortization on loans which reduces debt service and allows businesses to have more money for expansion and working capital.Since funding its original NMTC RLF loan pool in 2006, MEDC has partnered with PNC Bank as the Investor, to capitalize three additional Revolving Loan Fund (RLF) pools.