80 FR 247 pg. 80441 - Interest Rates
Type: NOTICEVolume: 80Number: 247Page: 80441
Page: 80441FR document: [FR Doc. 2015-32464 Filed 12-23-15; 8:45 am]
Agency: Small Business Administration
Official PDF Version: PDF Version
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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 2.38 percent for the January-March quarter of FY 2016.
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.
Linda T. Reilly,
Acting Director, Office of Financial Assistance.
[FR Doc. 2015-32464 Filed 12-23-15; 8:45 am]
BILLING CODE 8025-01-P