The Small Business Administration publishes an interest rate called the optional “peg” rate (13 CFR 120.214) on a quarterly basis. This rate is a weighted average cost of money to the government for maturities similar to the average SBA direct loan. This rate may be used as a base rate for guaranteed fluctuating interest rate SBA loans. This Start Printed Page 38718rate will be 3.625 (35/8) percent for the July-September quarter of FY 2011.
Pursuant to 13 CFR 120.921(b), the maximum legal interest rate for any third party lender's commercial loan which funds any portion of the cost of a 504 project (see 13 CFR 120.801) shall be 6% over the New York Prime rate or, if that exceeds the maximum interest rate permitted by the constitution or laws of a given State, the maximum interest rate will be the rate permitted by the constitution or laws of the given State.Start Signature
Walter C. Intlekofer,
Acting Director, Office of Financial Assistance.
[FR Doc. 2011-16581 Filed 6-30-11; 8:45 am]
BILLING CODE 8025-01-P