§ 218. Interest rate for linked loans; no lender's fees. 1. Linked
loans made to certified businesses in empire zones or to eligible
businesses in highly distressed areas or to eligible businesses that are
defined in paragraph (b-1) of subdivision eleven of section two hundred
thirteen of this article that are located in a renewal community or
defined in paragraph (b-2) of such subdivision that are located in an
empowerment zone or defined in paragraph (b-3) of such subdivision that
are located in an enterprise community, respectively for eligible
projects defined in paragraph (c) of subdivision twelve of section two
hundred thirteen of this article or to service-disabled veteran-owned
business enterprises for an eligible project defined in paragraph (f) of
subdivision twelve of section two hundred thirteen of this article or to
minority- or women-owned business enterprises for an eligible project
defined in paragraph (e) of subdivision twelve of section two hundred
thirteen of this article or to a defense industry manufacturer for a
project defined in paragraph (d) of subdivision twelve of section two
hundred thirteen of this article or to an eligible business pursuant to
paragraph (a) of subdivision eleven of section two hundred thirteen of
this article that produces products defined in subdivision two of
section three hundred one of the agriculture and markets law for an
eligible project as defined in paragraph (b) of subdivision twelve of
section two hundred thirteen of this article shall bear interest at a
fixed rate equal to three percentage points below the fixed interest
rate the lender would have charged for the loan in the absence of a
linked deposit based on its usual credit considerations. All other
linked loans shall bear interest at a fixed rate equal to two percentage
points below the fixed interest rate the lender would have charged for
the loan in the absence of a linked deposit based on its usual credit
considerations. Lenders shall certify to the commissioner of economic
development that the rate to be charged on a linked loan is two
percentage points or three percentage points, as the case may be, below
the interest rate the lender would have charged for the loan in the
absence of a linked deposit.

2. Lenders who make loans pursuant to the program shall not be
entitled to charge any discount, points, origination fees, handling
fees, service charges, refinancing fees or penalties or any charge other
than those normally charged and in such amounts normally charged by the
lender for loans of the type being made without regard to the program.