Section 830-RICR-10-05-3.4 - Financial AssistanceA. Financial assistance may include grants, loans, below market interest rates, interest rate subsidies or other credit enhancements which reduce the cost of financing eligible Projects. The amount of subsidy, if any, shall be determined by the Bank. At the discretion of the Bank, financially distressed Borrowers may receive financial assistance with a higher amount of additional subsidy as long as the terms of the financial assistance do not have an adverse financial effect on other participants in the CEF, bond holders; other creditors of the Bank; or the finances of the Bank.B. Requests for financial assistance shall be submitted in writing by an authorized officer of the Applicant to the Executive Director pursuant to the applicable requirements of this Part.830 R.I. Code R. 830-RICR-10-05-3.4
Adopted effective 2/19/2024