What are the BCIB loan terms regarding interest, repayment and security?

The maximum term for a BCIB loan is 10 years, unless otherwise determined by the Board of Commissioners. Repayments will be structured as equal payments made annually, semiannually, quarterly, or monthly over the term of the loan (yet to be confirmed). Eligible Applicants may be awarded financing at a fixed reduced interest rate for the 10 year term equal to a 1.5% interest rate subsidy on the financing secured by the County. The official loan and payment terms will be determined following the issuance of County financing. All BCIB Program loans must be secured by the Applicant. The expectation is for BCIB loans to be secured by the full faith and credit of a taxing authority, but the County reserves the right to accept other forms of security upon credit review in accordance with Section 6 of the Program Guidelines.

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1. What is the Butler County Infrastructure Bank (BCIB) Program?
2. Why would I apply for a loan from the BCIB versus Federal, State, or private loan programs?
3. Who is eligible to apply for a loan from the BCIB?
4. What type of projects are eligible for BCIB loan financing?
5. Are all project costs eligible for payment with BCIB loan proceeds?
6. Is there a maximum or minimum BCIB loan amount or percentage of project costs that an approved Applicant can receive?
7. What are the BCIB loan terms regarding interest, repayment and security?
8. What financial metrics might be used by the BCIB Program to assess credit worthiness/Applicant qualifications?
9. Will the financial statements provided as part of the BCIB loan application credit review process be kept confidential?
10. What is the “Turnkey” delivery option and how does it differ from the “Finance Only” project delivery option?
11. Are there any pre-application requirements?
12. How are the BCIB loan applications evaluated?
13. When are BCIB applications due and where should they be submitted?
14. How many copies of the BCIB loan application are required to be submitted?
15. When are BCIB project loans approved?
16. What is the BCIB loan program approval process?
17. How are BCIB loan application approvals/denials communicated to Applicants?
18. What is the procedure for accessing the BCIB loan funds?
19. Are Butler County’s administrative costs included in the BCIB loan?
20. How are project cost overruns handled during the project?