Repayments

The final promissory note will reflect repayments for the actual funds borrowed.

Repayments are due on May 1 and November 1 each year.
The first repayment is due on whichever of the two repayment dates (May 1 or November 1) falls between 6 and 12 months after the original completion date noted in the Notice to Proceed.
The May 1 repayment includes principal and interest (when applicable).
The November 1 payment is usually only interest but could include principal.
Interest begins to accrue from the date of completion on the Notice to Proceed. There is no interest during the originally planned construction period.
For information or assistance with repayments, contact Jennifer House at 919-707-9161 or Teresa.Tripp@deq.nc.gov.