Legacy Redevelopment Corporation

Legacy Redevelopment Corporation continued to provide loan capital and technical assistance to its loan clients with the goal to strengthen the businesses in the areas where improvements were identified. The goal, to get the loan clients bankable. In 2021, lrc provided 45 loans to small businesses and non-profit organizations exceeding $1.88mm. The 2021 portfolio was comprised of direct lending to small businesses effected by the pandemic, an expansion into the racine marrket, a partnership with the greater milwaukee foundation and new loan deals as a result of the economic turnaround, post pandemic. Job retention and creation was attained in addition to working with minority owned businesses as a focus of our mission. Over 95% of the loans serve the low to moderate income community.we provided one-on-one technical assistance (ta) to business startups and expansions that are customized to the needs of the borrowers. The ta provided ranged from financial education to succession planning, etc.