OAR 813-405-0030: Program Continuation

(1) The CLG program includes the backing of guarantee amounts depending largely upon individual project need. Guarantees may be activated and provided to borrowers or their associated lending institution in the form of loans or grants. (2) Loans must include loan terms and interest rates though interest rates shall be established at rates below market levels. Funds returned through this process shall be reused by the program or until such time that the Department determines the program is no longer effective or funding is inadequate. (3) At the time the program ends or any unused funds must be returned from any third party provider, not including any agreed administrative expenses.