Revolving Loan Fund Program
The purpose of the Revolving Loan Fund is to promote local economic development through the expansion and retention of employment and business opportunities in the Oshkosh area, with an emphasis on the Central Business District. The fund is also designed to promote and foster entrepreneurial expansion in the Oshkosh area.
Such purposes are declared to be a public purpose for which both public and private funds may be expended. Through the Revolving Loan Fund, the Oshkosh Area Economic Development Corporation will provide loans on terms tailored to meet the needs of qualified borrowers for eligible projects. The guidelines provided are intended to be used in the general structuring of economic development projects.
The Oshkosh Area Economic Development Corporation reserves the right to waive any Fund requirement it deems necessary in order to develop successful projects, and to accept or reject any application for project funding. The objectives of the Fund are to:
- Stimulate commercial business growth and expansion in the Oshkosh area with emphasis on the Central Business District.
- Stabilize commercial and residential occupancy in the Oshkosh area and in the Central Business District.
- Diversify the economic base in the Oshkosh area and the Central Business District.
- Foster the retention and expansion of financially and managerially sound existing commercial business in the Oshkosh area and the Central Business District.
- Attract financially and managerially sound new business and capital to the Oshkosh area and the Central Business District.
- Support start-up businesses in the Oshkosh area and the Central Business District which will enhance the entrepreneurial climate for the community.
- Assist in goals concerning targeted recruitment efforts to prospects outside of the Oshkosh area on behalf of the Oshkosh Area Economic Development Corporation and its close partner organizations.
- Stimulate private sector investment in long-lived physical plant and equipment to increase productivity, create new employment opportunities, and increase the tax base in the Oshkosh area and the Central Business District.
- Provide financing to fill gaps in local capital markets and thereby stimulate private sector capital formation, and to serve as a pump primer rather than a replacement for private commercial lending.