Current interest rates
Effective as of July 3, 2012:
Short-Term Loan Rate (interest-only):
1 to 2 years: 2.00%
Public Purpose Loan Rates (fully amortizing):
1 to 5 years: 2.50%
Current loan limits
The current loan application limit per calendar year is $10,000,000.
Municipalities and school districts may borrow additional sums in future years. There is no cumulative limit on the amount of loans that may be obtained.
Loan application limits and interest rates are set by the Board and may change due to market conditions and the availability of funds. Exceptions to the application limit must be approved by the Board.
Once a loan application is approved, the interest rate is guaranteed for all disbursements issued on that application.