Local policies determine interest rates for loan projects, which are below market, and generally fixed at 3%. Repayment period is typically three to ten years, depending on the asset financed. Local governments may charge annual administrative costs of $2,500 or 6% of the interest earned by the RLF, whichever is greater. The Loan Servicing Agent may charge a maximum annual fee of 1% of each RLF loan’s periodic payment. The RLF’s cash balance must not exceed $125,000 or 30% of the total RLF assets, whichever is greater.