BOI Board Room

About INTERCAP Loans

♦ 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, 2016 is 1.25%.

♦ 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.


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