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Home » 2016 Issues » 81 FR (10/05/2016) » 2016-24034. Interest Rates

  2016-24034. 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 1.75 percent for the October-December quarter of FY 2017.

    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.

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    Linda T. Reilly,

    Acting Director, Office of Financial Assistance.

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    [FR Doc. 2016-24034 Filed 10-4-16; 8:45 am]

    BILLING CODE 8025-01-P

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Document Information

Published:
10/05/2016
Department:
Small Business Administration
Entry Type:
Notice
Document Number:
2016-24034
Pages:
69182-69182 (1 pages)
PDF File:
2016-24034.pdf