Officials from the Wisconsin Economic Development Corp. (WEDC) have stepped up the agency’s efforts to recover nearly $4 million in overdue payments on loans to businesses from across Wisconsin, according to a report from WKOW ABC-27.
Since the beginning of 2022, court records show WEDC has filed 14 lawsuits against businesses seeking loan repayments. During 2020 and 2021, WEDC only filed two such lawsuits.
Most recently, WEDC filed suit against Madison-based Medical Engineering Innovations Inc. for $524,884. Court records indicate the state filed the lawsuit only after the company failed to both make loan payments and reach loan-required hiring goals.
Rehab Pulse of Middleton is another local company with a judgment against it for $401,063 stemming from a WEDC lawsuit.
