2024-06981. 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 4.25 percent for the April-June quarter of FY 2024.

    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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    David Parrish,

    Chief, Secondary Market Division.

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    [FR Doc. 2024-06981 Filed 4-2-24; 8:45 am]

    BILLING CODE P

Document Information

Published:
04/03/2024
Department:
Small Business Administration
Entry Type:
Notice
Document Number:
2024-06981
Pages:
23078-23078 (1 pages)
PDF File:
2024-06981.pdf