The SRF Loan Program re-sets the interest rates to its future borrowers on the first business day of each January, April, July and October. A base interest rate is used and calculated by using 90 percent of the average 20-year AAA-rated, general obligation bond Municipal Market Data composite index for the most recent calendar month. The interest rate is then discounted further based upon a borrower's Median Household Income from the most recent Census data and projected monthly user rates. A borrower's interest rate is fixed at the time of loan closing and does not fluctuate. To see this quarter's rate's visit http://www.in.gov/ifa/srf/2427.htm.
Indiana Finance Authority (IFA)