Prairie Land Electric Cooperative, Inc.

Loan amount available: Up to 80% of project cost (subject to availability of funds)

Minimum loan amount of $5,000

Interest rate: 1%, see special features for other fees

Term: 1-3 years for working capital and inventory

5-7 years for machinery/equipment and furniture/fixtures

10 years for real estate

Primary eligibility requirements:

Letter of credit from bank equal to loan amount requesting from program.

Program not available in Dickinson, Ellsworth, Lincoln, Marshall, Ottawa, Saline, and parts of Washington Counties.

Special requirements/features:

Servicing fee of 1%

Annual letter of credit fee charged by bank

See Business Finance Program for assistance.