Tax-exempt and taxable bonds, both in pooled transactions and stand-alone transactions, to be used to finance land, building, equipment, working capital and refinancings.
Uses
Land and building acquisition; Building renovation and new construction; Machinery and equipment acquisition and installation; Designated infrastructure; Tax-exempt bond refinancing
Funding
Loans no less than $400,000 and no more than $10 million for manufacturers; No upper limit for other projects; Up to 100% of project costs
Eligibility
Manufacturing; Nonprofit 501(c) (3); Energy; Solid Waste disposal; Wastewater treatment; Transportation facilities; Assisted living/housing
Terms
Since 1989, rates have averaged 46% of prime interest rate; Weekly variable interest rate tied to market for tax-exempt bonds; Up to 30-year term; Borrower generally must secure letter of credit from bank; $500 fee due at time of application, to be credited against the issuance fee when project closes
Where to Apply
Industrial Development Authorities and Corporations
