Administrative Rules of Montana
Department 8 - COMMERCE
Chapter 8.99 - MONTANA OFFICE OF TOURISM AND BUSINESS DEVELOPMENT DIVISION
Subchapter 8.99.5 - Microbusiness Finance Program
Rule 8.99.507 - DEVELOPMENT LOAN - NONRENEWAL
Universal Citation: MT Admin Rules 8.99.507
Current through Register Vol. 18, September 20, 2024
(1) Should the department choose not to renew a development loan, the term of the repayment schedule will be determined by the department taking into consideration the MBDC's outstanding microbusiness loans.
(2) The interest rate for repayment of an existing development loan will be set through negotiation by the department and the MBDC, but in no case will the interest be higher than the current interest rate for development loans as set forth in ARM 8.99.503 above.
17-6-406, MCA; IMP, 17-6-406, 17-6-407, MCA;
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