085-3 Wyo. Code R. § 3-5
Current through April 27, 2019
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.
(a) A floor of zero percent (0%) for non-revenue generating projects.
(b) A floor of one percent (1%) for revenue generating projects.
(c) Loans may have a one-time servicing fee of one-half of one percent (0.5%) not to exceed $5,000 and will be serviced through a third-party contract.
(d) Fees such as origination, documentation, filing appraisal and any additional fees will be paid by the applicant.
(e) The term of the loan will be based upon the useful life of the asset not to exceed 30 years.
085-3 Wyo. Code R. § 3-5
Amended, Eff. 7/25/2016.