Interest rates are fixed. SELP sells bonds to fund the loans.
The loan's interest rate is set at the bond rate, plus a spread, which pays for the costs of issuing the bonds and operating the energy loan program. The final rate is not determined until the bonds are sold to fund the loan. However, rates usually range between 5.50 percent and 7.50 percent.
Larger, more complex loans may require a higher rate based on various factors. SELP's interest rates may not be the lowest rates available to you. You are encouraged to investigate your options.