Rates and terms
Primary source
Verbatim text below is from the Electronic Code of Federal Regulations (eCFR), a public-domain U.S. government work. Always verify the current version with the eCFR before relying on it for any legal matter.
Full Text
(a) Rates. (1) The interest rate is the Agency's Direct Operating Loan rate, available in each Agency office.
(2) The limited resource Operating Loan interest rate is not available for Youth loans.
(3) The interest rate charged will be the lower rate in effect at the time of loan approval or loan closing.
(b) Terms. Youth loan terms are the same as for an OL established at § 764.254(b) except:
(1) Balloon installments are prohibited for youth loans; and
(2) Unequal installments are prohibited for the purpose of reasonably increasing cash flow margin to increase working capital reserves and savings, including reasonable savings for retirement and education.
[72 FR 63298, Nov. 8, 2007. Redesignated at 75 FR 54015, Sept. 3, 2010, as amended at 91 FR 56755, Sept. 4, 2026]
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.