Loan Application Process

The BCPL application process is simple and transparent. Borrowers pay no application fees, prepayment penalties, or any other fees. Loans usually require a minimum of 30 to 45 days from application to funding. The legal requirements for borrowing will vary somewhat depending on the type of municipality. For School District Borrowing see separate procedures.

Step 1

Complete and submit a Loan Application Request Form. The form provides all required information for BCPL to create a custom loan application. This form can be returned to BCPL by email to richard.sneider@wisconsin.gov (preferred), fax or regular mail.

Because funds are reserved for your loan at the time of application, please do not submit your loan application request until you are certain that the project is moving forward, have examined your funding alternatives, and have made the decision to borrow from BCPL.

Step 2

Within a few days, BCPL will review your request and contact you for more information or mail your custom Loan Application.

Step 3

The Board/Council of the Borrower must approve the loan application and specific Borrowing Resolution supplied by BCPL at a properly noticed meeting in accordance with Wisconsin Statutes.

Step 4

The Clerk/Secretary of the borrowing entity then submits the completed loan application to BCPL for review and approval, along with a copy of the minutes from that meeting.

Applications must be received a minimum of 10 business days in advance of a scheduled BCPL board meeting to allow sufficient time for internal reviews.

Step 5

BCPL staff reviews submitted documentation for accuracy and completeness.

Step 6

Following BCPL staff approval, the application is sent to the Office of the Attorney General for legal review.

Step 7

If approved, the application is placed on the agenda for final approval at the next meeting of the BCPL Board. The BCPL Board is scheduled to meet on the first and third Tuesdays of each month.

Step 8

BCPL staff will contact the Borrower following final BCPL Board approval. Additional documentation that needs to be executed by the Borrower and returned to BCPL includes the Certificate of Indebtedness (our form of Promissory Note) and Method of Disbursement Form.

Step 9

Loan funding can then occur within 7-10 days, but Borrowers have a maximum of four months following final approval to draw loan funds.

To expedite approval, read Mistakes to Avoid!

Still have questions?

Contact Richard Sneider at (608) 261-8001 or richard.sneider@wi.gov

The BCPL appllcatlon process is simple and borrowers pay no appllcatlon fees, prepayment penalties, or any other fees. All interest earned from school trust loans funds public school library materials throughout Wisconsin.

Borrowers must first submit an Application Request by filling out a Loan Application Request Form. Submit this worksheet by email, fax or regular mail.
BCPL will review that request then send you an Application by mail within a few days tailored to your specific project.
The legal requirements for borrowing will vary somewhat depending on the type of municipality or municipalities. Loans usually require from 30 to 45 days from application to funding. (For School District Borrowing see separate procedures.)
The BCPL loan application incudes a specific borrowing resolution to be approved by your board/council. Following the meeting that approves that resolution, the clerk submits the completed loan application to BCPL for review and approval, along with a copy of the minutes from that meeting.
Because we set funds aside for your loan at the time of application, please do not send in an application request until you are certain that the project is moving forward, have examined your funding alternatives, and have made the decision to borrow from BCPL.
BCPL staff reviews submitted documentation.
Upon approval, the application is sent to the Office of the Attorney General for legal review.
If approved, the application is placed on the agenda for final approval at the next meeting of the BCPL Board.

Applications must be received a minimum of 10 business days in advance of a board meeting to allow sufficient time for internal reviews. The BCPL Board meets the first and third Tuesdays of each month.

Funding can normally occur within 7-10 days following BCPL Board approval. Borrowers may take four months following final approval to draw loan funds.

To expedite approval, read Mistakes to Avoid!

Still have questions? Contact the BCPL Loan Officer.