Interest Rate on MBE Loan(s)

Interest Rate on MBE Loan(s). The minimum interest rate, which may be charged to the minority business on MDA’s portion of the MBE loan, is two percent (2%) below the Federal Reserve Discount Rate, and the maximum is two percent (2%) above the discount rate. Should the interest rate change from the date of commitment to the date of closing, the interest rate quoted in the commitment will prevail.