Loans shall meet the following requirements in §§B—F of this regulation. Interest Rate. The minimum interest rate to be paid on loans shall be a fixed rate of 4 percent per annum. Security. The Department may require that a loan be secured by: Liens and security interests in real and personal property; Personal guarantees; Any other collateral required by the Department; or A combination of the items in this section. Repayment Terms. The loan documents shall include provisions for repayment of the loan, provided that the provisions for repayment may be based on a flexible repayment schedule. Late Charges. Late charges, as permitted by law, may be imposed. Additional Documentation. The Department may require the applicant to provide title insurance, surveys, insurance, appraisals, and any other documentation that the Department determines is necessary or advisable.