The interest rate on Section 7(a) Direct Business Loans is 3.13 percent (3.13%) for the fiscal quarter beginning April 1, 2022. (Information only – no direct funds available at this time.) The optional peg rate for fluctuating interest rates on guaranty loans is 2.00 percent (2.00%) for the April – June quarter of FY 2022. 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.
