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What is the legal interest rate I can charge a non profit on a personal loan?

Albany, NY |

I am providing consulting services To a non profit and would like to know what is the legal interest rate I can charge them for unpaid bills in the event there is default in payment.

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Attorney answers 1

Posted

First off, are you related to the exempt org in question? If so, you should not be making a loan to them and charging interest. If not, I would suggest capping your interest rate at the applicable AFR rate.