060-35 Wyo. Code R. §§ 35-6 - Loan Terms
(a) Interest rates
for loans made under this chapter may be at zero percent, up to an annual
interest rate equal to the average prime interest rate as determined by
W.S.
35-11-528(e). In no event,
shall the interest rate exceed an annual interest rate equal to the average
prime interest rate as determined by the state treasurer. Interest rates
established under this section shall be adjusted on January 1 of each
year.
(b) Interest rates shall be
established in recognition of the repayment abilities and needs of the
applicant eligible for loans under the program.
(c) Loan amortization schedules, terms and
conditions for each loan approved shall be based on the criteria in W.S. W.S.
W.S.
35-11-528(e).
(d) The term of the loan shall not exceed
thirty (30) years or the useful life of the project, whichever is less, and may
be for a shorter term as determined by financial strength, repayment ability,
security and other factors.
Notes
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