Are low-interest loans always available to finance improvements?
To date, the state of Nebraska has invested $20 million more than 40 percent of all the oil overcharge funds received in low-interest loans for energy saving improvements. This $20 million continually revolves. Borrowers send loan payments to their lenders, who in turn, submit a portion of those payments to the Energy Office, usually quarterly. The repayments to the Energy Office are then invested in loans to new borrowers. If the $20 million did not revolve, the Energy Office would not have been able to finance $85 million in improvements in the past seven years. Strong demand for these loans, especially in the spring and fall, can create periods when the Energy Office has no money for new loans. Generally, these periods are temporary and clear up in fewer than 30 days. Unfortunately, during these periods, loan applicants cannot proceed with their improvement projects. If the loan applicant cannot wait, the project must be financed with a conventional loan or with the applicant’s own
