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.

Current businesses holding a Revolving Loan:

- Thomas Winery

- Red Pepper Inc.

- River Oak Chophouse

- Red Bicycle Hall

- Crawdaddy Music

Revolving Loan Fund Committee Members

NAME	POSITION	APPOINTED BY
Seth Pennington	Secreatary	Mayor
Andy Ward	Board Member	Mayor
Bill Hensler	Vice-President	Council
VACANT		Council
VACANT	Mayor

For questions and concerns, contact Tony Steinhardt III, Director of Economic Development, at tsteinhardt@madison-in.gov

Meetings:

The Revolving Loan Fund Committee meets as needed in the City Hall Council Chambers. Meeting dates are subject to change. Please see the meeting tab below for upcoming meeting dates.

Meeting are streamed live on the City of Madison YouTube. Watch the latest meeting here.