Patrick Denne
Memorial Scholarship Application
WE WANT TO HEAR FROM YOU!
Has an NDRWSA employee helped your system with a problem? Did a
Circuit Rider help you find a water leak? Have you attended one of our
training classes and thought the trainer did an excellent job? Well if
so, we want to hear from you! Take this opportunity to give a "THANKS"
or "GREAT JOB" to an NDRWSA employee. If you would like to show your
appreciation for a job well done, please email comments to our office at:
ndrw@ndrw.org or you can send a letter
to: 2718 Gateway Avenue, Suite 201 Bismarck, ND 58503-0585
2718 Gateway Avenue Suite #201
Bismarck, ND 58503
North Dakota Rural Water Finance Corporation
The North Dakota Rural Water Finance Corporation (NDRWFC) was created in December
of 1998 by the North Dakota Rural Water Systems Association (NDRWSA). The purpose of the
corporation is to assist communities in obtaining competitive interim financing for construction
projects.
In an effort to assist borrowers across the State of ND with the overwhelming burden
of financing capital construction projects, the NDRWFC in conjunction with
Morgan Keegan have created
an interim construction loan program to provide funding for communities which have received a permanent
loan commitment from the USDA, Rural Development (RD). The program is structured to provide a
mechanism for obtaining competitive fixed rate loans for construction projects at a very low cost of borrowing.
The program is designed as a tax-exempt pooled financing and will have a loan term within the program
sufficient to complete each project. The NDRWFC will be the program
administrator.
The stated or nominal loan rate is fixed at the market level. Loan funds are
disbursed on an invoice requisition basis. The effective rate of borrowing is based on the nominal
loan rate less an interest earnings credit on un-disbursed construction proceeds. The effective rate
of funds is estimated at approximately 3% depending on the actual timing of disbursements.
The final loan rate will be based on the residual earnings of the program. Depending
on the success of the program, the potential for a final rebate does exist but is not guaranteed. Should
excess funds exist after the closing of the program, a final rebate will be made to program participants.
Any potential rebate will lower the effective cost of funds to the borrower.
Click here for
Interim Financing Application
Click here for more
information on Funding Options
Click here for
more information on our new Revolving Loan Fund Program
Click here to request additional information.
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E-mail
ndrw@ndrw.org
with questions or comments about this site.
Copyright © 2001 ~ North Dakota
Rural Water Systems Association.
Last modified: ~ Friday, December 21, 2007 |
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