Justia Regulation Tracker

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[Federal Register: June 25, 2008 (Volume 73, Number 123)]
[Notices]               
[Page 36162]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr25jn08-143]                         

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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 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