About Us
Since 2003, Legacy Redevelopment Corporation’s (LRC) PURPOSE has been "To bridge the gap to bankability through strategic lending solutions" for Milwaukee and Racine's underserved markets.
Legacy is uniquely focused on nonprofit and small businesses, many of which are minority-owned. We believe that sustainability is advanced when businesses and organizations have access to capital. Our VISION as a Community Development Financial Institution is to create “Empowered small businesses and organizations in SE Wisconsin to be self-sustaining and achieve their financial goals.”
We’re here to help you succeed.
Our Team is T.R.U.E.
Transparent • Relatable • Understanding • Empathetic
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Terese Caro
President & CEO
Terese Caro was named President of LRC in March, 2020 after serving four years as Vice President and Chief Lending Officer where she oversaw a $10.9 million loan portfolio consisting of small business, new construction/rehab and commercial/retail real estate loans. In 2021, she became President & CEO of LRC. Ms. Caro has spent nearly 30 years in banking and finance, managing a diverse portfolio valued at over $500 million in loans and assets.
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Errol Barnett
Chief Lending Officer
Errol Barnett joined the LRC team as Chief Lending Officer in May 2021, bringing more than 30 years of commercial banking experience to his role, including managed assets, community, and correspondent banking. He has extensive experience in government guaranteed loan programs. At LRC, he is responsible for fostering new relationships and managing a diverse portfolio of loan products.
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Lakeytheia Stribling-Dantzler
Administrative Services Officer
Lakeytheia Stribling-Dantzler joined the LRC team in May, 2021, as the Administrative Services Officer. She is responsible for overseeing accounts payables and receivables, cost reports, government reporting, budgets, and grant proposals. Ms. Stribling-Dantzler brings solid experience and skills in relationship building and project management to her position at LRC.
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Nicole Pfeifer
Racine Community Lending Officer
Nicole Pfeifer joined the LRC team in June 2022, as the Racine Community Lending Officer. She is responsible for originating, processing, and closing community development loans and offering technical assistance to strengthen the loan application of borrowers at the Racine office. Nicole brings an entrepreneurial spirit with experience and skills in self-employment and a deep understanding of people from education in population health to her position at LRC.
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Lanaja Lucas
Loan Program Assistant
Lanaja Lucas joined the LRC team in June 2022, as the Administrative Assistant Contractor. Ms. Lucas was responsible for assisting the office with small projects, data entry, loan booking, and helping with the COVID-19 Relief for small businesses. Ms. Lucas has so much to learn and is open to development and accepting the achievements they will bring. Ms. Lucas applies these valuable talents to everyday work – open-minded, time management, clarity, and concision and organizational skills.
What is a CDFI?
A Community Development Financial Institution (CDFI) is a private financial institution that works in economically distressed markets that are underserved in the traditional financial arena. CDFIs provide a unique range of financial products and services to individuals, small- to mid-sized businesses, microenterprises and nonprofit organizations. These include loans to:
Small business owners to expand their businesses, fund their operations, purchase equipment or buy a building
Microenterprises to start their businesses
Nonprofit organizations to develop affordable housing, build community facilities, expand services and promote economic development initiatives
The core foundations of all CDFI loans are that they create jobs, encourage long-term financial sustainability and stabilize communities.
