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Retiring Loan Committee Member Committed Over 30 Years to RCEDC’s Mission
Lloyd is one of the former committee members of RCEDC’s Loan Committee and after over 30 years of service recently retired. Lloyd was dedicated to furthering the economic development of the community and was part of many changes that were made to meet the needs of new and growing businesses in the community. RCEDC now offers 14 different financing programs and grant programs. One being the establishment of a for-profit privately funded Racine Development Group loan fund that initially focused on the downtown Racine area and was instrumental in its revitalization of our downtown beginning in the mid- 1990’s. Assisting many businesses with below market interest rates and financing they could count on. Lloyd also witnessed the expansion of the SBA 504 program for RCEDC which initially was geographically limited to Racine County, then later absorbed the Kenosha County SBA portfolio, then grew to offer the program in Walworth County and now serves the entire State of Wisconsin. The SBA program is an outstanding program for Wisconsin businesses allowing them to secure beneficial financing to meet their growing needs for capital investments. With the growth Statewide, Lloyd was part of the Committee decisions in establishing a trade name for RCEDC’s finance division which is now known as Business Lending Partners, servicing the entire state of Wisconsin. It is dedication like Lloyd’s that helps our community grow.
Lloyd, thank you for the contributions you have made to RCEDC over the years furthering the mission of RCEDC and the growth of business in Wisconsin.
BLP is proud to announce its participation in the VetLoan Advantage program. BLP offers the largest savings on the SBA 504 program than any other SBA 504 processor in the State of Wisconsin for loans to veteran-owned businesses. BLP is offering these savings to assist in NADCO and SBA's efforts to help Veterans by providing discounts on the SBA 504 program to firms that are at least 51% owned by military veterans.
About the SBA 504 Program
The U.S. Small Business Administration (SBA) 504 Loan Program provides long-term, fixed rate direct loans for real estate and equipment needs. The SBA was established in 1980 to provide small businesses with an alternative, beneficial financing options to help businesses grow and create jobs for their communities.
The SBA utilizes Certified Development Company's (CDC's) to process and administer the loan program on its behalf. Business Lending Partners (BLP) has been certified by SBA since 1985 to provide 504 loans throughout the State of Wisconsin and is the only CDC headquartered in Southeast Wisconsin.
In addition to the SBA 504 program, BLP administers a variety of community loan programs throughout Racine and Waukesha counties. BLP staff has expertise with many other county, state, and federal resources. We work closely with small businesses and lenders to provide knowledgeable information on the various products available to finance business growth.