Direct Loan and Direct Loan PLUS Programs

PURPOSE:

The Direct Loan Program is designed to provide loans under $200,000 at a below market rate for qualified institutions for the purchase of capital equipment, the acquisition of real estate, construction or renovations of facilities, refinancing of existing debt, emergency repairs, vehicle purchases or other matters as determined by the Board. 

The Direct Loan PLUS Program is designed to provide loans for up to $300,000 at a below market interest rate for qualified institutions for the purposes listed above.  The PLUS Program has more stringent credit qualifications than the Direct Loan Program.

LOAN TERM:

The term of a Direct Loan will be 5 years.  The term of a Direct Loan PLUS loan will be 3, 5, 7 or 10 years.

WHO CAN BORROW?:

Any institution that is qualified to borrow from the Authority under RSA 195-D or 195-E is eligible to be a borrower under this Program.

Rate:

The Direct loan interest rate will be 1%.  The Direct Loan PLUS loan will be 2.25%.

Security:

Interest in personal property and other characteristics of a bank loan.

FEES/EXPENSES:

NO FEE IS CHARGED BY THE AUTHORITY.

Click to view the Direct Loan Program Policy Guidelines

FOR APPLICATION:

For an application or additional information, contact:
Bonnie S. Payette , Executive Director
New Hampshire Health and Education Facilities Authority
P.O. Box 2110
Concord, NH 03302-2110

Phone: 603-224-0696
Fax: 603-224-3058