27. Is there a maximum rate that an Applicant can charge on its consumer or small business loans if the Applicant meets each of the standards identified in the secondary questions?

FAQ Question
27. Is there a maximum rate that an Applicant can charge on its consumer or small business loans if the Applicant meets each of the standards identified in the secondary questions?
FAQ Answer

No. PM15.1 and PM 16.1 ask Applicants that offer consumer and/or small business loans with rates in excess of 36% to indicate the current highest allowable rate that the Applicant charges on any of the Applicant’s consumer and/or small business loan products. This data is collected for information purposes and does not affect the eligibility of the Applicant at this time.