INTERCAP Interest Rates Announced

INTERCAP Interest Rate 3.37% - February 16, 2019 - February 15, 2020

• The INTERCAP program only loans funds to eligible government units as defined under 17-5-1604, MCA.
• The INTERCAP program is a variable rate loan program.
• Interest rates are adjusted on February 16th of each year.
• 100% financing is available with no up-front cost, equity, or matching funds required.
• Interest and principal payments are due semi-annually on February 15th and August 15th.
• Current interest rate through February 15, 2020 is 3.37%
• Loan requests in excess of $1,000,000 must receive Loan Committee approval.
• Loan requests in excess of $5,000,000 must receive Board approval.
• Use of loan funds has significant flexibility, e.g. new and used equipment and vehicles, real property improvements, cash flow, preliminary engineering costs, grant writing.
• Prepayments are allowed without any prepayment penalty.
• Maximum loan limit is established by eligible government unit's legal debt limit.
• Maximum term of the loan is 15 years or useful life of the project, whichever is less.