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41 <br />1. All state and local regulations governing the applicant's <br />~~ business. <br />2. Policies established by the Loan Committee for each <br />particular applicant. <br />3. Policies established by the Board of County Commissioners <br />dealing with this loan program. <br />AMOUNT OF LOANS <br />Maximum: $50,000. Minimum: $5,000. Should market conditions <br />change, or in the event of an applicant with extraordinary <br />conditions, - ~'~~Y~''" "" a loan in amount outside of the <br />maximum or minimum may be considered. All loans are subject to <br />availability of loan funds. <br />LOAN TERM <br />Maximum Term - 5 years (except 7 years for the purchase or <br />improvement__of real estate used or to be used wholl far the <br />business purpose of the applicant.) <br />INTEREST RATE <br />A3-1--~e~~t;~W~1-~e~~~ ~ xr~~t -ems-~ <br />~~i~~s~ r-awe-~ A11 loans will be char ed finance char es based <br />on a variable interest rate. The variable interest rates the <br />"in.terest rate" will be determined b and be based on the <br />len th of the maturit of the loan and an increment over the <br />hi hest Prime Rate "Prime" as ublished on the first business <br />da of the month in the Mane Rate Table in the Eastern Edition <br />of the Wall Street Journal generally as follows ~~a <br />0-2 years Prime plus 2.00% <br />2-3 years Prime plus 2.25% <br />3-4 years Prime plus 2.50 <br />4-~7 years Prime plus 3.00 <br />~e~arr~g~~.=~~~ The finance char es on the loan will be <br />calculated b .multi 1 in a Bail eriodic a^ate the interest <br />rate ~ 365 b the un aid rinci al amount of the loan on the <br />last da of the billin c cle times the number of da s in the <br />month, The dail eriodic rate ma va from month to month due <br />to than es in the interest rate and will be determined in the <br />same manner as the iatesest rate is determined with the loan <br />4 <br />