The Milwaukee Economic Development Corporation's mission is to aid businesses in the creation and retention of jobs. The Corporation uses its loan capital to provide business loans and assist in the financing of projects that achieve that objective.
Since 1971, the Milwaukee Economic Development Corporation (MEDC) has been a participating lender in thousands of investment projects in the Milwaukee area. All together, these projects have generated over one billion dollars of new investment and thousands of jobs for Milwaukee residents.
For over forty years, MEDC has worked in partnership with area banks in order to provide low interest loans to Milwaukee businesses. Because of our commitment to continuous improvement, our loan fund has been able to grow to over $60 million, allowing us to annually increase the number of businesses we serve.
Our approach to lending has always revolved around two fundamental principles: Sharing risk with all participants in a project, and lending in partnership with private sector financial institutions.
We assess risk similarly to conventional lenders, but we lend out funds at a higher risk level to increase the feasibility of a project. With all of our loan programs, we support and assist minority- and woman-owned businesses.
We also work with the City of Milwaukee and the Redevelopment Authority of the City of Milwaukee (RACM) in the development and environmental remediation of commercial and industrial properties.
The Corporation's activities are supervised by a Board of Directors consisting of Milwaukee area business men and women, as well as lenders, with our day-to-day governance delegated to the Board's Executive Committee. All loans are reviewed and approved by our Loan and Finance Committee, with land investments being reviewed and approved by the Land Resource Committee.
MEDC is audited annually by Baker Tilly, LLP. Audit information is available upon request.