E.__Other terms and conditions as the authority determines appropriate.

5.__Administrative costs.__A corporation may not use any money disbursed from the fund by the authority for administrative expenses, but may charge a commitment fee on each loan of up to 1% and may use interest earnings not to exceed 5% of each loan annually to cover reasonable administrative and technical assistance costs.__The authority shall review and approve a corporation's administrative expenses on an annual basis.__The authority may establish by rule reasonable administrative fees for its origination of loans and administration of the fund.

6.__Financing terms and conditions.__Loans may be made from program funds under the following terms and conditions.

A.__Loans may not exceed $200,000 to a borrower, including an affiliated entity.

B.__Each corporation and the authority shall establish interest rates, amortization schedules and repayment terms for each borrower, except that loans may not bear a rate of interest greater than the prime rate of interest.

C.__A corporation or the authority may provide for flexible repayment terms.

D.__A corporation or the authority shall require collateral for loans when available, but may subordinate to loans from other lenders.

7.__Eligible borrower.__A project or borrower is eligible for financial assistance under the program if the following criteria are met.

A.__The business for which funds are requested must provide early child care and education services to at least 3 children who are not related to the owner of the business or any provider of early care and education services working for the borrower.

B__The borrower has insufficient access to funding for the project from other public and private sources.

C.__The borrower has committed all reasonably available resources to the project, obtained financial commitment from