Rule 6-11-3.12 - Loan Terms and ConditionsA. The borrower must inject a minimum of ten percent (10%) equity into the project.B. The minimum loan amount is $250,000.C. The term of the loan shall be the determined useful life of the asset to be financed or up to twenty (20) years, whichever is less.D. The rate of interest on the loan will be at a fixed rate. MDA will determine the interest rate of a loan on a project-by-project basis based on a review of the application. Miss. Code Ann. § 57-119-1, et seq.