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Code of Federal Regulations Title 7. Agriculture § 7.3550.113 Rates and terms (loans only)

Current as of October 02, 2022 | Updated by FindLaw Staff

(a) Interest rate. The interest rate for all section 504 loans will be 1 percent.

(b) Loan term. The repayment period for the loan should generally be as short as possible based on the applicant's repayment ability, and may never exceed 20 years;  however loans made in combination with grants must have a term of 20 years.

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Cite this article: FindLaw.com - Code of Federal Regulations Title 7. Agriculture § 7.3550.113 Rates and terms (loans only) - last updated October 02, 2022 | https://codes.findlaw.com/cfr/title-7-agriculture/cfr-sect-7-3550-113/

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