General Loan Terms

General Loan Terms. The maximum amount, which may be loaned from the Energy Investment Program to finance any one (1) project, Five Hundred Thousand Dollars ($500,000). The fixed rate of interest which shall be set at the time the application is approved, will be two percent (2.0%) below the New York Prime Rate with a term not to exceed ten (10) years. The term and the repayment schedule will be established by MDA.