Revolving Loan Fund Committee
The City of Madison has the ability to make revolving loans eligible for businesses and industries within the City of Madison cooperate limits. These low-interest loans for job creation and capital investment are administered and approved by the city Revolving Loan Fund Committee. The Revolving Loan Fund Committee reviews loans that businesses in the city apply for. These members review the loans that are requested.
Revolving Loan Funds (RLF) have become a widely used financing tool. They are a gap financing measure primarily used for the development and expansion of small businesses. An RLF is a self-replenishing pool of money utilizing interest and principal payments on old loans to issue new ones so you can capitalize on future opportunities. The goal of the RLF committee is private-sector job creation and capital formation. RLFs are not substitutes for conventional lending sources and are not intended to match or replace the capacity of lending organizations. RLFs are designed to fill gaps in existing local financial markets and provide or attract capital that would otherwise be unavailable for economic development.
Revolving Loan Fund Committee Members
NAME APPOINTED BY APPOINTMENT DATE Vacant Seth Pennington Mayor 5-5-20 Andy Ward Mayor 5-5-20 Bill Hensler Council 1-5-22 Mark Goley Council 1-5-22
Meetings
The Revolving Loan Fund Committee meets as needed in the City Hall Council Chambers. Contact Tony Stienhardt III with the Office of Economic Development by email or in the Mayor’s Office at 812-265-8300 if you have any questions. Current businesses holding a Revolving Loan:
- Thomas Winery
- Bad Apple MAC
- Red Pepper Inc.
- ProCoat Products
In this Department
Topics of Interest
Contact Us
Director of Economic Development