Funding established by the Fairfield Economic Development Association to promote renewable energy
Customer works with a participating bank
WHAT IS THE INTEREST RATES?
Prime +.75%. Prime is evaluated on an annual basis. In 2014 the prime rate was 4%.
WHAT ARE THE LOAN TERMS?
Minimum loan: $3,000
Maximum loan: $300,000
Minimum consumer credit score: 625
Consumer payment to income ratio: Not to exceed 40%
Commercial credit debt service cover ratio: 1.2 or better
Loan Length: 3 to 10 years
Must be a resident of Jefferson, Wapello, Keokuk, Washington, Henry, or Van Buren County
HOW TO APPLY:
You will first need to complete an application form. This form will be turned into one of the local financing institutions listed below. Simpleray can help guide you through this process.
LOCAL LENDING INSTITUTIONS WITH FEDA FUNDING AVAILABLE
