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Joint review board approves TID 19 amendment to create emergency loan program administered by Greater Oshkosh EDC
Summary
The board approved an amendment to TID 19 to authorize a small emergency revolving loan program administered by the Greater Oshkosh Economic Development Corporation. Loans will be limited to $10,000 at about 2% interest with a brief payment deferral; applicants must show prior-year financials and will be screened to avoid duplicate funding.
The Oshkosh City Joint Review Board voted to approve a resolution amending Tax Increment District (TID) No. 19, the Northwest Industrial Park Project Plan, to create an emergency revolving loan program to be administered by Greater Oshkosh Economic Development Corporation (GoEDC).
The amendment authorizes a TID-funded loan pool that GoEDC will operate through its existing revolving loan fund (RLF) committee. "We are using Greater Oshkosh EDC. They have an existing revolving loan fund committee that they'll be using," said Alan, a staff member who described the program during the board discussion. "They're allowing virtually any businesses registered in Oshkosh to apply. ... The dollar amount is capped out at $10,000 instead of $250,000. So the most you can apply for in the emergency grant is up to $10,000." (Transcript lines 83.095–111.715)
Why it matters
Board members said the program is intended to help small businesses with urgent cash needs while routing applications through GoEDC…
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