Kenosha businesses damaged during unrest receiving loans
Program has awarded $1.45 million in 1st round
Kenosha businesses that were damaged during unrest this summer following a police officer shooting Jacob Blake are receiving loans to help recover.
More than 25 businesses will receive up to $50,000, no-interest loans through the Kenosha Area Business Alliance and the Wisconsin Economic Development Corp. The microloan program is for local business owners that suffered physical damage to their businesses during the unrest.
Peaceful protests during the day expressing outrage at the police officer shooting Blake multiple times at close range were followed by violence at night. Garbage trucks were burned, businesses’ windows were shattered and every car was burned at one dealership.
The program has awarded $1.45 million to Kenosha County businesses in the first round.
“We are very appreciative of the support from Governor Evers and the WEDC through the Disaster Recovery Microloan Program,” said KABA President Todd Battle in a news release. “In the days that followed the civil unrest in Kenosha, we worked collaboratively to leverage this program to help impacted Kenosha businesses and property owners.”
Loan recipients include restaurants, retail stores and a car dealership.
Georgina Posada received a loan to help reopen Luminarias Banquet Hall in Kenosha’s uptown neighborhood.
“We are very thankful to WEDC for these dollars and appreciate KABA’s assistance,” Posada said in the news release. “We suffered significant damage this summer and insurance proceeds did not cover our losses.”
The money is intended to help pay for repair work and short-term operating expenses. The loans have a fiveyear repayment period with a sixmonth deferment. Up to half of the loan can be forgiven for meeting criteria.
More than $2.5 million is still available for affected businesses in Kenosha. The WEDC disaster recovery microloan program started in 2018 to provide relief after manmade or natural disasters.