Two years after phasing out the Wisconsin Economic Development Corp.’s loan program in the wake of a scathing audit and several bad deals, Gov. Scott Walker is proposing to reinstate agency loans in his latest budget.
The new loans would come with a few new stipulations — they can only be funded with repayments of existing loans, they can’t be forgivable and they must adhere to commonly accepted commercial lending practices....
Ken Notes: May I add one more requirement, the WEDC needs to develop a publicly accessible data base of all outstanding loans and grants and their current status, updated say quarterly. Also to my readers please remember that businesses fail and if properly and fairly executed we should not hold the WEDC responsible for this. It is the proper and fair part they have problems with. That said I like the loan program but still favor a tax credit for new jobs initiative.
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- - Volume: 5 - WEEK: 6 Date: 2/10/2017 8:41:13 AM -