Revolving Loan Fund
The Revolving Loan Fund (RLF) is designed to encourage job creation and promote local economic development in the greater Oshkosh area. It is a flexible gap financing tool with lower interest levels for area businesses engaged in high-income and job growth through expansion and/or relocation projects.
Businesses must meet certain eligibility requirements to receive money from the Revolving Loan Fund. The Greater Oshkosh RLF allows for any single business enterprise to obtain funds from a minimum of $25,000 to a maximum of $250,000.
Any viable private enterprise with at least two years of financial history seeking to grow operations in the greater Oshkosh area.
- The acquisition of land, buildings, and/or fixed equipment
- Inventory essential to the business operations
- Site preparation, the construction and/or reconstruction of buildings, the rehabilitation of buildings including leasehold improvements, and/or the installation of fixed equipment
- Clearance, demolition, or the removal of structures
- Working capital
- Research and development
- Intellectual property
- Employee training
- Marketing of new products or its emergence into a new niche
- Employee recruitment and/or transfer
- Interest rate buy-down with private sector lender
The Greater Oshkosh RLF Committee will use the following guidelines to evaluate each loan application:
- Private Funds: One dollar of private sector investment shall be provided for each dollar of RLF investment.
- Loan Amount: The amount of funds available for any single business enterprise shall range from a minimum of $25,000 to a maximum of $250,000.
- Loan Terms: The specific term of the loan will be determined on a case-by-case basis, designed around generating maximum success and outcomes.
- Interest Rates: The interest rate on each loan shall be determined on a case-by-case basis by the RLF Committee, balancing risk and return for the City of Oshkosh, as well as applicable margins to cover associated costs.
- Repayment: Deferral of principle payments may be provided, but will be determined on a case-by-case basis designed around generating maximum project success and outcomes.
- Collateral: Collateral requirements shall be determined on an individual basis by the RLF Committee.