Village of Ortonville AgendaPacket Village Council Meeting 2026-05-18
Oxford Bank Proposes $50,000 Line of Credit for Village
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Description
The Village of Ortonville received a $50,000 revolving line of credit proposal from Oxford Bank with a 12-month term and 8.5% interest rate to support cash flow. The proposal includes a $500 commitment fee and is pending council approval.
Contract Details
Contract Amount
$50,000
Vendor
OXFORD BANK
Agency
Ortonville village, MI
Contract Type
FINANCIAL_SERVICES
Document Date
May 18, 2026
Contract Term
12 months
Renewal Date
2027-05-18
Renewal Info
1-year term; can be renewed or renegotiated upon maturity. No penalty for early prepayment.
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