Notices. SMALL BUSINESS ADMINISTRATION
175 words·~1 min read·
/register/2020/12/28/2020-28533·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
BILLING CODE 8011-01-P 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 1.13 percent for the January-March quarter of FY 2021. 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, in the event that rate 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.
John Wade, Chief, Secondary Market Division, Office of Financial Assistance. [FR Doc. 2020-28533 Filed 12-23-20; 8:45 am]
Connectionstraces to 3
Citation graph
cites case law
Cites 3Cited by 0 across 0 sources