73 FR 123 pg. 36162 - Interest Rates
Type: NOTICEVolume: 73Number: 123Page: 36162
FR document: [FR Doc. E8-14369 Filed 6-24-08; 8:45 am]
Agency: Small Business Administration
Official PDF Version: PDF Version
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 4.5 (4 1⁄2 ) percent for the July-September quarter of FY 2008.
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.
Grady B. Hedgespeth,
Director, Office of Financial Assistance.
[FR Doc. E8-14369 Filed 6-24-08; 8:45 am]
BILLING CODE 8025-01-P