085-3 Wyo. Code R. §§ 3-5 - Interest Rate and Term
(a) A Business
Ready Community Loan shall be made at the following interest rates as
recommended by the Council and established by the Board and reflective of
market rates.
(i) A floor of zero percent (0%)
for non-revenue generating projects.
(ii) A floor of one percent (1%) for revenue
generating projects.
(iii) Loans
may have a one-time servicing fee of one-half of one percent (0.5%) not to
exceed five thousand dollars ($5,000) and will be serviced through a
third-party contract.
(iv) Fees
such as origination, documentation, filing appraisal and any additional fees
will be paid by the applicant.
(v)
The term of the loan will be based upon the useful life of the asset not to
exceed thirty (30) years.
Notes
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