Capital Loan Program
Purpose:
The purpose of the Capital Loan Program is to provide loans at below market interest rates for qualified institutions for the purchase of capital equipment, the acquisition of real estate or for the refinancing of existing debt.
The Authority has developed a simple application process and standardized documents which limits expenses and the time needed to complete a financing.
The Authority will co-lend a part of the loan at a 30% level, subject to the board's discretion.
Loan Term:
The term of a loan will be five years with a longer amortization schedule if needed.
Loan Amount (for the Authority's portion):
The Authority's minimum participation amount is $50,000 and it's maximum total participation shall not exceed $450,000 per institution. The aggregate maximium amount that an institution may borrow under this Program combined with any additional Authority Direct Loan Programs is $450,000.
Who Can Borrow?:
Any institution that is qualified to borrow from the Authority under RSA 195-D or 195-E is an eligible borrower under this Program.
Rate:
The Authority’s loan rate will be half the bank's rate or a floor of 2.25%.
Security:
The Authority will have a parity position in the same security as the lender with no additional security or covenants required.
Fees/Expenses:
There may be out-of-pocket expenses such as surveys, appraisals, filing fees, etc. charged to the institution. Legal fees (other than any institution’s counsel fees) will generally not exceed $3,000.
There are no fees charged by the Authority.
Click to view the Capital Loan Program Policy Guidelines.
For an application or additional information, contact:
Bonnie S. Payette, Executive Director
New Hampshire Health and Education Facilities Authority
One Capitol Street, Suite 200
Concord, NH 03301
Email: bpayette@nhhefa.com
Phone: 603-224-0696
Fax: 603-224-3058