Or. Admin. Code § 340-178-0020

Current through Register Vol. 63, No. 10, October 1, 2024

Section 340-178-0020 - Reduced Interest Rate Benefits

(1) Any person qualifying for Tier 1, 2, 3, or 4 UST financial assistance under OAR Chapter 340, Division 172 will qualify for a reduced interest rate where the person receives a loan for UST project work from a commercial lending institution.

(2) In addition to the requirements of section (1) of this rule:

(a) A person qualifying for Tier 1 financial assistance is eligible to receive a reduced interest rate of 7.5 percent on a loan for the first $100,000 of eligible UST project costs;

(b) A person qualifying for Tier 2 financial assistance is eligible to receive a reduced interest rate of 5.0 percent on a loan for the first $100,000 of eligible UST project costs;

(c) A person qualifying for Tier 3 financial assistance is eligible to receive a reduced interest rate of 3.0 percent on a loan for the first $100,000 of eligible UST project costs; and

(d) A person qualifying for Tier 4 financial assistance is eligible to receive a reduced interest rate of 1.5 percent on a loan for the first $100,000 of eligible UST project costs.

Or. Admin. Code § 340-178-0020

DEQ 29-1991(Temp), f. 12-18-91, cert. ef. 12-20-91; DEQ 14-1992, f. & cert. ef. 6-11-92

Stat. Auth.:ORS 466.706 -ORS 466.895 &ORS 466.995

Stats. Implemented: OL 1991, Ch. 863, Sec. 6 & 6a