81 FR 18679 - Interest Rates

SMALL BUSINESS ADMINISTRATION

Federal Register Volume 81, Issue 62 (March 31, 2016)

[Federal Register Volume 81, Number 62 (Thursday, March 31, 2016)]
[Notices]
[Page 18679]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-07313]


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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 2.25 percent for the April-June 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.

Dianna L. Seaborn,
Acting Director, Office of Financial Assistance.
[FR Doc. 2016-07313 Filed 3-30-16; 8:45 am]
 BILLING CODE P