Funding is available up to 100% of project costs.
The weekly variable interest rates for pooled transactions are tied to market for tax-exempt bonds. The bond term for pooled transactions is based upon a negotiated letter of credit- the borrower generally must secure a letter of credit from the bank. Terms for stand-alone bonds may be negotiated. Interest rates for stand-alone transactions may be fixed rather than variable in some cases. A $500 fee due at time of application is to be credited against the issuance fee when the project closes.