business_operations_and_finance_committee_meeting.pdf
Committee backs extension of $7M line with Blackhawk Bank
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Description
The Business, Operations and Finance Committee recommended a three-month extension of the School District of Beloit’s $7,000,000 cash flow line of credit with Blackhawk Bank. This short-term banking agreement will maintain liquidity while the bank’s acquisition by First Mid and the district’s new credit application are completed.
Contract Details
Contract Amount
$7,000,000 line of credit
Vendor
BLACKHAWK BANK
Agency
Beloit School District, WI
Contract Type
FINANCIAL_SERVICES
Document Date
December 2, 2025
Contract Term
Three-month extension beginning November 1, 2023
Renewal Date
2024-02-01
Renewal Info
Existing cash flow borrowing line of credit, expired November 1, 2023, to be extended for an additional three months under the same bank while a new line is underwritten post-acquisition.
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