97-20622. Interest Rates  

  • [Federal Register Volume 62, Number 151 (Wednesday, August 6, 1997)]
    [Notices]
    [Page 42278]
    From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
    [FR Doc No: 97-20622]
    
    
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    SMALL BUSINESS ADMINISTRATION
    
    
    Interest Rates
    
        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 6\7/8\ percent for the July-September quarter of FY 
    97.
        Pursuant to 13 CFR 120.932, the maximum legal interest rate for a 
    commercial loan which funds any portion of the cost of a project (see 
    13 CFR 120.801) shall be the greater of 6% over the New York prime rate 
    of the limitation established by the constitution or laws of a given 
    State. The initial rate for a fixed rate loan shall be the legal rate 
    for the term of the loan.
    Jane Palsgrove Butler,
    Acting Associate Administrator for Financial Assistance.
    [FR Doc. 97-20622 Filed 8-5-97; 8:45 am]
    BILLING CODE 8025-01-P-M
    
    
    

Document Information

Published:
08/06/1997
Department:
Small Business Administration
Entry Type:
Notice
Document Number:
97-20622
Pages:
42278-42278 (1 pages)
PDF File:
97-20622.pdf