INTERCAP Interest Rate 2.50% - February 16, 2020 - February 15, 2021
- 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, 2021 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.