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David B. Schulz is a shareholder in Reinhart's Banking and Finance Practice, a member of the firm's Corporate Law Practice, and a former member of Reinhart's Board of Directors. David's practice is primarily devoted to commercial and public finance matters including structuring transactions using New Markets Tax Credits (NMTC), Historic Tax Credits (HTC), and other federal and state tax credits. David has extensive experience representing a wide variety of commercial clients over a broad spectrum of financing structures. Clients appreciate David's proactive approach as he anticipates and addresses business-related issues designed to avoid future disputes and litigation. Drawing from over 20 years of legal experience and his background in business enables him to offer legal counsel and financial alternatives that always consider the broader business context.

On the lender side, he represents financial institutions, asset-based lenders, and mezzanine lenders. When structuring transactions using NMTC, he represents Leverage Lenders and Community Development Entities (CDE). On the borrower side, David represents manufacturers, technology companies, real estate developers, and other businesses. His NMTC practice often involves representing Qualified Active Low-Income Community Businesses (QALICB) from sourcing and selling tax credits to structuring of the overall transaction.

In the public finance arena, David represents issuers, conduit borrowers, underwriters, and lenders. He frequently acts as bond or transaction counsel in connection to tax-exempt and taxable financings matters with a special emphasis on twinning tax credits and bonds.

In addition to his traditional legal practice, David is skilled and knowledgeable in dealing with the USCIS Immigrant Investor Program (EB-5). His experience makes him one of the preeminent attorneys in the area dealing with EB-5 financing, which is an important and viable source of project financing.

David provides a unique blend of professional excellence, assertiveness and proven ability to successfully handle the most intricate and challenging matters. Hard driving, yet sensitive to issues that may affect business outcomes, David's success with complex financing matters has resulted in numerous referrals and long-term business and professional relationships.

Recognizing the importance of community involvement, David is highly involved with the Alzheimer's Association of Southeastern Wisconsin where he serves as a Board Member and Treasurer. In addition to his involvement with the Alzheimer's Association, David is a member of the Advisory Council of Rebuilding Together Greater Milwaukee. Notably, David along with numerous members of Reinhart's Banking and Finance and Bankruptcy Practices volunteered their time to partner with Rebuilding Together to renovate a home on the north side of Milwaukee. David is also a member of the Wauwatosa Community Development Authority where he applies his project financing expertise to assist with redevelopment matters.

David primarily serves clients in the following areas:

  • Private Equity, Venture Capital and Corporate Finance
  • Tax Credits
  • Financial Institutions


  • J.D., cum laude, Marquette University Law School
  • B.B.A., University of Wisconsin-Milwaukee (Finance)

Bar Admissions

Wisconsin | Illinois


  • Structuring and negotiating conventional financings, from single-bank loans to syndicated financings involving multiple tiers of lenders
  • NMTC financings; both debt and equity structures
  • Midwest disaster area bonds (MDA Bonds or MDABs)
  • Industrial development revenue bonds (IRBs)
  • Housing and other exempt facility bonds
  • 501(c)(3) bonds
  • Taxable note issuances
  • Acquisition financing
  • Recapitalizations
  • ESOPs
  • Working capital
  • Asset financing and leasing
  • Real estate and construction financing
  • Restructurings and work-outs
  • Debtor-in-possession loans
  • Reviewing, drafting and negotiating a diverse range of contracts

Honors & Affiliations


  • Best Lawyers Banking and Finance Law “Lawyer of the Year” (2019, 2024)
  • Best Lawyers in America (Banking and Finance Law; Corporate Law)
  • Selected for inclusion in Wisconsin Super Lawyers
  • Wisconsin Top Rated Lawyer Martindale-Hubbell AV® Preeminent™ Peer Review Rated
  • State Bar of Wisconsin
  • Milwaukee Bar Association
  • National Association of Bond Lawyers (NABL)
  • Alzheimer's Association of Southeastern Wisconsin (Board Member, Treasurer)
  • Wauwatosa Economic Development Corporation (Former Board Member)
  • The Salvation Army of Greater Milwaukee (Former Board Member)
  • Rebuilding Together Milwaukee (Advisory Committee)

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