Section 130-14-030 - Direct loans(1) Direct loans may be awarded to the applicant on a one-time-only basis and shall not exceed a maximum of one hundred thousand dollars.(2) Repayment of the direct loan shall be made to the child care facility revolving fund.(3) Interest rates for a direct loan may be up to prime rate, negotiated on a case-by-case basis, fixed for the life of the loan. Loan terms shall be negotiated on a case-by-case basis.(4) Applicants must provide sufficient collateral for funds loaned under this section, as determined by the child care facility fund committee.(5) Applicants may be charged a one-time loan origination fee.Wash. Admin. Code § 130-14-030
Statutory Authority: RCW 43.31.504. 02-06-043, § 130-14-030, filed 2/27/02, effective 3/30/02; 92-02-015, § 130-14-030, filed 12/23/91, effective 1/23/92. Statutory Authority: RCW 43.31.085. 90-17-054, § 130-14-030, filed 8/14/90, effective 9/14/90.