Good News for YWCA Milwaukee

Good News for YWCA Milwaukee

The Economic Development Administration of the US Department of Commerce informed us today that they have forgiven a $2 million loan to the YWCA of Milwaukee 5 years early. When the YWCA originally built their headquarters building in 1995 they obtained a $2 million loan from FDA forgivable  after 25 years. Later the regulations were changed to give EDA the discretion to forgive the loan after 20 years.

Originally the Regional Office of EDA refused to forgive the loan early but we were able to persuade senior officials at the EDA and the Department of Commerce to exercise agency’s  discretion and the loan will be forgiven. As a result the YWCA of Milwaukee will add $2 million to its balance sheet.

Good news for the YWCA which is a remarkable organization doing much good in the Milwaukee community.

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