---
kind: "section"
citation: "7 C.F.R. § 1776.15"
title: "7"
number: "1776.15"
heading: "Terms of loans."
url: "https://uscodex.org/cfr/7/1776.15"
---

# §1776.15. Terms of loans.

- (a) **DWS loans under this part—**
  - (1) Shall have an interest rate of 1 percent;
  - (2) Shall have a term not to exceed 20 years; and
  - (3) Shall not exceed $15,000 for each water well system or decentralized wastewater system described in [§ 1776.1](/cfr/7/1776.1.md).
- (b) The grant recipient must set forth the DWS loan terms in written documentation signed by the loan recipient.
- (c) Grant recipients must develop and use DWS loan documentation that conforms to the terms of this part, the grant agreement, and the laws of the state or states having jurisdiction.
- (d) The Agency will determine the maximum subgrant limit for each DWS applicant.
- (e) The applicant will determine subgrant funding levels to individual subgrantees based on established criteria described in the workplan.

## Notes

### Amendments

[70 FR 28788, May 19, 2005, as amended at 73 FR 68295, Nov. 18, 2008; 85 FR 23211, Apr. 27, 2020]

### Authority

Authority: 7 U.S.C. 1926e.

### Source

Source: 70 FR 28788, May 19, 2005, unless otherwise noted.

### Amendments

[70 FR 28788, May 19, 2005, as amended at 73 FR 68295, Nov. 18, 2008; 85 FR 23211, Apr. 27, 2020]