Who is eligible for a BCPL Loan?
Wisconsin school districts and municipalities as defined by Section 67.01(5) of the Wisconsin Statutes, are eligible to borrow, along with a few other statutorily defined entities. Eligible borrowers include counties, cities, villages, towns, technical college districts, metropolitan sewerage districts, town sanitary districts, public inland lake protection and rehabilitation districts, and drainage districts. Federated library systems also are eligible.
Payment Schedules
Annual payments are due March 15 each year. Loans funded between September 1 and March 14 do not have a payment scheduled for that upcoming March 15. BCPL can provide custom amortization schedules for projects that may take time to generate expected revenues or that need coordination with other debt payment schedules.
Prepayment Options
Prepayment(s) on any loan(s) are only allowed after January 1 and before September 1 of each year. No prepayment penalties or fees are charged. A 30-day written notice is required.