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North Shore Bank and Historic King Drive Business Improvement District Announce $50,000 Revolving Lo
03/31/2016

North Shore Bank and Historic King Drive Business Improvement District Announce $50,000 Revolving Loan Fund

BROOKFIELD, Wis. – North Shore Bank and the Historic King Drive Business Improvement District (BID) today announced the creation of a $50,000 revolving loan fund, to be used towards revitalization efforts in the business district. North Shore Bank contribution of a $25,000 investment will match the BID’s investment of $25,000.
The BID will utilize the fund to authorize small business loans between $1,000 and $10,000. The loans will be available to qualified businesses looking to either start or grow their presence in the Historic King Drive district. In addition to the funds, applicants will receive free technical assistance and mentorship. Interested businesses can call 414-265-5809 for more information or to apply.

“We are proud to be a part of this growing neighborhood,” said Michael Kellman, senior vice president of consumer lending for North Shore Bank. “It’s very exciting to have this opportunity to re-invest in the district that has been so good to us.”

North Shore Bank will present its investment of $25,000 to the Historic King District BID at 10:30 a.m. Thursday, March 31. The presentation will be held at North Shore Bank’s Milwaukee branch at 1900 N. Martin Luther King Dr.

“We are excited this investment into King Drive is happening now,” said Deshea Agee, executive director of the Historic King BID. “With interest in the District at an all-time high, this loan program will encourage even more businesses to move to the area and help businesses already here continue to thrive.”
 

QUICK FACTS ABOUT THE HISTORIC KING DRIVE BUSINESS IMPROVEMENT DISTRICT REVOLVING LOAN FUND

  • The Historic King Drive Business Improvement District (BID) and North Shore Bank recently announced the creation of a $50,000 revolving loan fund to be used towards revitalization efforts in the King Drive business district.
  • North Shore Bank contributes $25,000 to the fund, matching the BID’s $25,000 investment.
  • The BID will utilize the fund to authorize small business loans between $1,000 and $10,000. The loans are available to qualified businesses looking to either start or grow their presence in the Historic King Drive district. In addition to the funds, applicants will receive free technical assistance and mentorship.
  • Interested businesses can call 414-265-5809 for more information or to apply.

North Shore Bank, headquartered in Brookfield, has assets of over $1.8 billion and 46 offices throughout eastern Wisconsin and northern Illinois. Wisconsin locations are in metro Milwaukee, Ozaukee County, Racine, Kenosha, Appleton, Menasha, Green Bay and surrounding areas, Burlington, Union Grove, Muskego, and Door County. The bank is the proud, multi-year recipient of American Banker’s “Best Banks to Work for” Award and the Milwaukee Journal Sentinel’s “Top Workplaces” Award. Locate a North Shore Bank office. You can also connect with the bank on Facebook, Twitter, Pinterest, and Instagram.

The Historic King Drive Business Improvement District (‘the BID”) exists to promote economic, social and civic progress on Milwaukee’s near north side. For twenty-two years the BID has worked with neighborhood, business and property owners, city officials and non-profit organizations to help ensure the area’s place in a more vibrant and diverse Milwaukee. The BID views its geographic area as an ecosystem where residential life, commerce and community service are interconnected. You can also connect with the BID on Facebook.

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