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

SECTION 40-14-7

   § 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 theprevailing rate of interest in this state for comparable loans, and shall notexceed five percent (5%). The term of the loan shall not exceed ten (10) years.