[Federal Register Volume 85, Number 189 (Tuesday, September 29, 2020)]
[Notices]
[Page 61078]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-21427]


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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 0.88 percent for the October-December 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, 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,
Director, Office of Financial Assistance.
[FR Doc. 2020-21427 Filed 9-28-20; 8:45 am]
BILLING CODE 8026-03-P