Rhode Island § 40-14-7 § 40-14-7. Interest rates.

Rhode Island Statutes

§ 40-14-7 — § 40-14-7. Interest rates.

Rhode Island·Title 40 Human services·Ch. 40-14 Equipment Loan Fund for People with Disabilities

§ 40-14-7. Interest rates.
Interest rates for loans from the fund shall be established by the director; provided,
            however, that those rates shall be substantially lower than the prevailing rate of
            interest in this state for comparable loans, and shall not exceed five percent (5%).
            The term of the loan shall not exceed ten (10) years.
         

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