South Dakota Administrative Rules
Title 12 - Department of Agriculture
Article 12:07 - Agriculture enterprise programs
Chapter 12:07:12 - Rural development loans and participations
Section 12:07:12:18 - Interest rates
Universal Citation: SD Admin Rules 12:07:12:18
Current through Register Vol. 51, page 43, September 23, 2024
The interest rate initially established shall remain constant during the existence of the loan unless otherwise provided in the loan documentation. The standard interest rate will be established by the secretary from time to time based on current market rates. Loans may deviate from the standard rate based on collateral, risk, economic conditions and other prudent lending practices. Applicants meeting the definition of a small or beginning farmer may receive lower than the standard rate.
General Authority: SDCL 38-6-8.1.
Law Implemented: SDCL 38-6-3, 38-6-8.
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