Use of Funds Rates, Terms, and Fees Loans Granted in the Past Year Loan Applications Local governments may apply for funds to finance public works infrastructure that directly supports an eligible business. Use of Funds Acquisition of equipment. Interest rates are fixed for the term of the loan, and are set by the Board semiannually. The loan rate is 6.5 percent through June 30, 2001. A loan origination fee of one-half percentage points will be charged on each loan.
Points are due at the time of closing.
The points are an eligible loan expense. Whit McLeod Furniture in Arcata is a locally recognized furniture manufacturer. Whit has been conserving, reusing and recycling for more than 20 years. In 1983, he began manufacturing wood wine cases from second-growth cedar. For more information, read the complete press release .