Page 33: of Marine News Magazine (February 2024)

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Regulatory

Update

MARAD converted the program to a government loan pro- Title XI support. In short, the tests that measure that the gram with the Federal Financing Bank as the lender.” borrower has ‘a reasonable prospect’ of repaying the debt

The repayment term and interest rates available under have been updated to align with other federal programs the program and generally better than those available from and general industry practice.” the commercial lending market. “The main advantages Papavizas said the move addresses the issue of rigid