Pennsylvania Code
Title 12 - COMMERCE, TRADE AND LOCAL GOVERNMENT
Part III - Business Financing
Subpart C - Loans
Chapter 73 - PENNSYLVANIA INDUSTRIAL DEVELOPMENT AUTHORITY
Subchapter A - GENERAL PROVISIONS
LOAN AMOUNTS AND TERMS
Section 73.13 - Interest rates

Universal Citation: 12 PA Code ยง 73.13
Current through Register Vol. 54, No. 44, November 2, 2024

Interest rates on the Authority's loans, including penalty interest rates for delinquent loans, will be set by the Authority and will become effective when the Authority prescribes. In setting interest rates the Authority will consider unemployment statistics, market interest rates, the Authority's cash flow and the need to keep the Commonwealth and its businesses competitive. Projects designated as advanced technology projects by the Department, projects located in areas designated as enterprise zones, planning stage enterprise zones or distressed areas and projects affecting industries designated by the Department as Statewide or regional strategic industries, may receive special low interest rates. Notice of the Authority's interest rates will be published annually as a notice in the Pennsylvania Bulletin.

This section cited in 12 Pa. Code § 73.11 (relating to loan ceiling); 12 Pa. Code § 73.12 (relating to job creation requirements); and 12 Pa. Code § 73.121 (relating to general).

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