---
kind: "section"
citation: "7 C.F.R. § 1783.15"
title: "7"
number: "1783.15"
heading: "What are the terms of RFP loans?"
url: "https://uscodex.org/cfr/7/1783.15"
---

# §1783.15. What are the terms of RFP loans?

- (a) **RFP loans under this part—**
  - (1) Shall have an interest rate that is determined by the grant recipient and approved by RUS;
  - (2) Shall have a terms not to exceed 10 years; and
  - (3) **Shall not exceed the lesser of $200,000 or 75 percent of the total cost of a project.** The total outstanding balance for all loans under this program to any one entity shall not exceed $200,000.
- (b) The grant recipient must set forth the RFP loan terms in written documentation signed by the loan recipient.
- (c) Grant recipients must develop and use RFP loan documentation that conforms to the terms of this part, the grant agreement, and the laws of the state or states having jurisdiction.

## Notes

### Amendments

[69 FR 59772, Oct. 6, 2004, as amended at 86 FR 14526, Mar. 17, 2021]

### Authority

Authority: 7 U.S.C. 1926 (a)(2)(B).

### Source

Source: 69 FR 59772, Oct. 6, 2004, unless otherwise noted.

### Amendments

[69 FR 59772, Oct. 6, 2004, as amended at 86 FR 14526, Mar. 17, 2021]