|Questions and Answers...|
5% Dollar and Energy Saving Loans
The Nebraska bank where a borrower conducts business recently merged with an out-of-state bank. Can the borrower still get a Dollar and Energy Saving Loan from the new bank?
No. Dollar and Energy Saving Loans may be made only by Nebraska banks, savings institutions and credit unions.
Once a bank, savings institution or credit union ceases to be a Nebraska financial institution, loans cannot be made by the institution. The names and locations of participating lenders in the state are available from the Energy Office and are also accessible at the Energy Office web site at www.nol.org/home/NEO/loan/search.cgi
Interest rates have been rising in the past few months. What is the current interest rate on Dollar and Energy Saving Loans?
The maximum interest rate which participating lenders may charge on Dollar and Energy Saving Loans is 5%. This interest rate for loans has been in effect since last year.
Have there been any recent changes in the loan particulars?
The Energy Office made a few changes:
Some borrower maximums have changed:
A borrower wanted a home energy rating of his home to identify energy efficiency improvements that could be made. Who performs these ratings?
The Energy Office certifies home energy raters under the Nebraska Home Energy Rating System. You may obtain a listing of certified home energy raters in Nebraska by contacting the Energy Office. The borrower would then need to contact raters in their area for availability and costs. The cost of the rating could be included in a Dollar and Energy Saving Loan, if used to get a loan for improvements identified in the rating report.
Return to the Summer 2000 Newsletter