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Home » 2013 Issues » 78 FR (10/22/2013) » 2013-24214. Interest Rates

  2013-24214. Interest Rates  

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    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 3.125 (31/8) percent for the October-December 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

    Michael A. Simmons,

    Acting Director, Office of Financial Assistance.

    End Signature End Preamble

    [FR Doc. 2013-24214 Filed 10-21-13; 8:45 am]

    BILLING CODE 8025-01-P

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Document Information

Published:
10/22/2013
Department:
Small Business Administration
Entry Type:
Notice
Document Number:
2013-24214
Pages:
62932-62932 (1 pages)
PDF File:
2013-24214.pdf