Section 30.05. Standards for the approval of loans.

 

(1)   Criteria. The department may approve applications that satisfy the following criteria:

(a) The eligibility requirements of s. Trans 30.03 .

(b) The applicant has been in business in Wisconsin for a continuous period of not less than 5 years prior to the date of the loan application.

(c) The loan request is for at least $20,000 but not more than $200,000.

(d) A demonstration of the ability of the applicant to repay the loan within the time frame prescribed in s. Trans 30.09 .

(e) An applicant may not have a total of more than $200,000 in loan funds outstanding under this program at one time.

(f) Sufficient funds are available.

(2)   Compatibility with improvement program.

(a) The department may not grant a loan unless it determines that an application is compatible with the department's highway improvement program construction schedules.

(b) The department shall consider loan applications on the basis of state-wide needs and importance.

(c) The department may not loan funds more than 2 years before, or within 90 days of, the scheduled letting of a highway construction contract.

(d) The department may not loan funds to finance work to be carried out concurrent with highway construction.

History: Cr. Register, January, 1991, No. 421 , eff. 2-1-91.