Orange County NC Website
Browse       Search
5 <br /> 11. Individuals with pending criminal charges or who are incarcerated, on probation, or <br /> parole. <br /> 12. Foreign controlled businesses. <br /> 13. Non-profit institutions. <br /> 14. Fishing and shore operations. <br /> 15. Private membership clubs. <br /> 16. Buildings listed on the National Register of Historical Places. <br /> COMPLIANCE WITH APPLICABLE REGULATIONS <br /> In all cases, loans made from this program must be consistent and in accordance with the <br /> following: <br /> 1. All state and local regulations governing the applicant's line of business. <br /> 2. Policies established by the Loan Committee for each particular applicant. <br /> 3. Policies established by the Board of County Commissioners dealing with this loan <br /> program. <br /> Amount of Loans <br /> Maximum: $50,000. Minimum: $5,000. Should market conditions change, or in the event of <br /> an applicant with extra-ordinary conditions, an alternative loan May be considered. All loans are <br /> subject to availability. <br /> LOAN TERM <br /> Maximum Term - 5 years <br /> INTEREST RATE <br /> All loans will accrue interest on a daily basis at a floating interest rate. Interest rates will be <br /> quoted based on the Wall Street Prime Rate plus a spread based on the maturity of the loan: <br /> 0-2 years Prime plus 2.00% <br />