Following the guidelines of the Revolving Loan Fund Plan to reflect the City of Eau Claire’s lending strategy, the Loan Administration Board administers a Revolving Loan Fund pool with over $1 million in funds loaned to eligible businesses in the City of Eau Claire thru multiple programs, including: Micro Loan program, City Revolving Loan program, Commercial Façade Loan program, and EDA CARES Loan program.  Learn more about programs the Loan Administration Board oversees and other assistance available through the Eau Claire Economic Development Division Visit https://www.eauclairedevelopment.com/doing-business/financial-assistance/

MEETINGS

The Loan Administration Board meets on the third Wednesday of the month from 11:30 a.m.-1 p.m.

DUTIES

As specified by the Economic Development Administration, the Loan Administration Board is responsible for approving loans, all major loan modifications (or waivers), and loan foreclosure actions. It is also responsible for at least recommending Revolving Loan Fund loan policy. (Actual approval of loan policy may take place at a higher level.)

The loan board should include members with business experience (provided it will not cause a conflict of interest), members with financing experience, members from both the public and private sectors and minority members representative of the community. At least one member with financing experience (similar to the type of loans to be made under the RLF program) must be present for each loan decision.

While it is preferred that residents of the City of Eau Claire serve on the board, those not residing within the City limits, but who have a business address or other direct interest within the City of Eau Claire, may serve on this Committee.

 

Loan Administration Board Members
Mboga, Larry	City Council
Accola, Larry	6/93 - 6/24
DaCosta, Maria	9/06 - 6/26
Hanson, Luke	2/22 - 6/24
Harmon, Stephen	7/19 - 6/25
Haupt, Cory	10/11 - 6/24
Mayer, Krista	9/22 - 6/25
Medin, Brice	4/22 - 6/25
Ogden, Bill	9/06 - 6/26
Tomesh, Tyler	10/13 - 6/24
Weber, Jessie	5/22 - 6/25

For more information about the Load Administration Board that is not addressed on the City's website, please contact the Economic Development Division at (715) 839-4914 or Ecodevo@eauclairewi.gov.