Standards for the approval of loans

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.