BOI Board Room

Montana INTERCAP loan Program logo

INTERCAP Interest Rate 2.50% - February 16, 2017 - February 15, 2018
 

  • 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, 2018 is 2.50%
  • 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.

 

Please note: Both the application and checklist items must be submitted.


MONTANA BOARD OF INVESTMENTS | MONTANA DEPARTMENT OF COMMERCE
2401 COLONIAL DR, 3RD FLOOR | PO BOX 200126 | HELENA, MT 59620-0126 | P: 406-444-0001 | F: 406-449-6579 | TDD: 406-841-2702