Eligibility:

Applicants can be public bodies (city, township, county or special district), Indian Tribes, cooperatives, or other non-profit organizations. Projects must be located in rural areas. Rural areas do not include Cities and Villages with a population in excess of 20,000.

Funding:

Applications are selected into the funding cycle based upon a statewide priority point system.

Terms:

Maximum of 40 years or the useful life of the facility, whichever is less.

Interest:

Negotiated between the lender and borrower.

Credit:

No marginal loans can be guaranteed. However, the borrower must be unable to obtain credit at any reasonable rates and terms from other sources. No guarantee can be made to a Federal or State agency, or for a tax-exempt obligation.

Collateral:

Must be adequate, and may be (not limited to) revenue bonds, pledge of taxes or assessments, land, easements, rights, buildings, machinery and equipment, accounts receivable, and assignment of leases. Appraisals are required.

More Information:

For more information, contact our State Office at (785) 271-2700.