The council is to offer loans worth more than £409,000.
More may come from a $300 million loan offered by China's president when he stopped here last year.
This is the second time the state has offered such loans.
Two other banks offered loans at 7.25 and 7.7 percent.
The bankers present could offer loans, but interest rates were higher now.
The federal government offers loans to small businesses at low interest rates.
Still, the credit union was open, offering quick $3,000 loans to members to help them get back on their feet.
The public have also been offered cheaper loans to pay for new cars.
State housing officials offered grants and loans for the project.
Some lenders will offer small loans to those without bank accounts.