While the current interest rate for CHESLA loans is a 6.80% fixed annual rate (simple interest), a new interest rate will be set for loans originated with proceeds of the anticipated 2010 Bond issue. CHESLA will continue to originate loans at the current 6.80% interest rate so long as present funds remain available to lend at that rate. CHESLA will announce the new loan rate as soon as it has been determined. In the event CHESLA runs out of funds to lend at 6.80%, Firstmark Services will advise you and distribute for your signature(s) a  new promissory note reflecting the new interst rate.  The new interst rate may be higher or lower than the current rate.