This PDF is the current document as it appeared on Public Inspection on 03/28/2014 at 08:45 am.
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 rate will be 3.375 (33/8) percent for the April-June quarter of FY 2014.
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
Linda S. Rusche,
Director, Office of Financial Assistance.
[FR Doc. 2014-07026 Filed 3-28-14; 8:45 am]
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