Milwaukee groups awarded $2.76 million for loans in distressed areas
Scott Paulus
Sally Peltz of Legacy Redevelopment Corp., which was awarded the U.S. Treasury money this week.
Three Milwaukee-based community lenders received a combined $2.76 million in federal money for lending in low-income areas.
The money comes from the U.S. Department of Treasury’s Community Development Financial Institutions Fund. The local groups will use the money to support businesses that would have difficulties qualifying for traditional bank loans.
Northwest Side Community DevelopmentCorp. received $309,118. That organization targets manufacturers on Milwaukee’s northwest side.
Legacy Redevelopment Corp. in Milwaukee received $699,750. Ways to Work, a Milwaukee-based lender with 44 offices around the country that targets loans to working families, received $1.75 million.
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