(bm) A good licensee can charge, contract to own otherwise discover an interest for a financial loan or forbearance generated to your or just after April 6, 1980 and you can prior to November step one, 1981, which doesn’t surpass the greater out of either of your adopting the:

step 1. With regards to fees funds or forbearances that are repayable inside the dramatically equivalent successive payments during the everything equivalent periods, and you will in which the dominating doesn’t meet or exceed $step 3,one hundred thousand excluding people appeal licensed under it section, and you can where in fact the arranged readiness of your own financing price isn’t over three years and 15 weeks throughout the time from and work out, attract may be deducted beforehand at a rate perhaps not in excess of $nine.fifty for each $a hundred a year on that a portion of the financing not exceeding $2,one hundred thousand and you may $8 for each $one hundred annually to your people remainder. (more…)