Mississippi Administrative Code
Title 6 - Economic Development
Part 1 - Financial Resources
Chapter 14 - Mississippi Small Enterprise Development (SED) Finance Act
Rule 6-1-14.13 - Limits
Universal Citation: MS Code of Rules 6-1-14.13
Current through September 24, 2024
The annual cost of the letter of credit shall not exceed two percent (2%) of the outstanding principal balance of the loan plus two hundred ten (210) days interest. If a letter of credit is not renewed upon expiration, MBFC shall draw upon the letter of credit for full payment of the outstanding principal and accrued interest of the loan, including any penalties or other costs.
Miss. Code Ann. § 57-71-1 et. seq. (Rev. 2008)
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