Areas Served: City of Milwaukee, Wisconsin
Businesses located in the City of Milwaukee can take advantage of fixed rates of interest as low as current U.S. Treasury rates.
MEDC will finance 25% to 40% or up to $500,000 of the total project.
Eligible uses include building construction, renovation, improvements, real estate purchases, equipment purchases, and in limited cases, working capital.
Projects totaling $80,000 to $1.25 million are best suited to this program.
MEDC’s mortgage/lien may take a subordinated position behind the bank’s loan for the project.
Eligible Projects & Financing for Second Mortgage Program
¢ Business must be for-profit and located in the City of Milwaukee.
¢ Business must create or retain jobs, or increase the tax base.
¢ Land and building purchases.
¢ Building construction and additions.
¢ Soft costs associated with construction.
¢ Equipment purchases.
¢ Limited amounts of working capital may be financed only if fixed assets are part of the total project.
¢ Speculative or commercial rental real estate projects may be eligible if the project will create a significant increase in the tax base or the tenant business will create a substantial number of new jobs.
Taverns, liquor stores, gun shops are not eligible.
Contact InformationMilwaukee Economic Development Corporation
Address: 809 N Broadway
City: Milwaukee
State: Wisconsin
Website:
http://www.medconline.com/Loan_Programs.html
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