[Federal Register Volume 63, Number 7 (Monday, January 12, 1998)] [Notices] [Page 1878] From the Federal Register Online via the Government Publishing Office [www.gpo.gov] [FR Doc No: 98-504] ----------------------------------------------------------------------- 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 6 1/8 percent for the January-March quarter of FY 98. Pursuant to 13 CFR 120.921(b), the maximum legal interest rate for a commercial loan which funds any portion of the cost of a project (see 13 CFR 120.801) shall be the greater of 6% over the New York prime rate or the limitation established by the constitution or laws of a given State. The initial rate for a fixed rate loan shall be the legal rate for the term of the loan. Jane Palsgrove Butler, Acting Associate Administrator for Financial Assistance. [FR Doc. 98-504 Filed 1-9-98; 8:45 am] BILLING CODE 8025-01-P