Page 19 - WHEDA Annual Report 2014

Taher, Inc. employees in Milwaukee, Wisconsin.
loAn GuARAntEE SpARkS A nEiGHboRHooD EconoMic REvivAl
In 1983, WHEDA’s affordable housing mission further expanded to include business financing, thus spurring economic development. This expansion allowed WHEDA to create tools for business success, including the Small Business Guarantee Program. This program helps businesses grow their operations, as well as retain and create jobs. WHEDA loan guarantees reduce financial risk to local commercial lenders and ensure that Wisconsin small business owners have access to affordable funding.
For over 30 years WHEDA’s Small Business Loan Guarantee Program has supported entrepreneurs’ dreams, by partnering with local
lenders and together providing over 29,000 Wisconsin businesses with essential financing.
WHEDA continues to use, modify and adapt its loan guarantee program to increase business opportunities across the state, thus remaining relevant to the ever changing landscape. For example, in order to support the Transform Milwaukee initiative’s mission, WHEDA launched a new loan guarantee product to offer its bank partners incentives to invest in Milwaukee businesses. This new financing option, called the Transform Milwaukee Loan Guarantee, offers incentives such as no fees, a lower interest rate and an 80% loan guarantee.
WHEDA AnnuAl REpoRt 2014
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