Legacy Redevelopment Corporation

1. 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. Job retention and creation was attained in addition to working with minority owned businesses as a focus of our mission. The goal is to get the loan clients bankable. In 2023,lrc provided 15 loans to small businesses and non-profit organizations at approximately $2mm injected into disadvantaged communities and to socially and economically disadvantaged individuals (sedi). The 2023 lrc's portfolio is comprised of direct lending to diverse industries of small businesses including the expansion into the racine market. Lrc has continued to be a community partner with the greater milwaukee foundation, expanding our reach to early childhood education small businesses. In addition, we've partnered with another local cdfi on a project that will provide affordable groceries in a food desert in a challenged area of milwaukee. The project will provide job's and housing. 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.