Interest Rate

Özet

Pursuant to 13 CFR 108.503-8(b)(4), the maximum legal interest rate for a commercial loan which funds any portion of the cost of a project (see 13 CFR 108.503-4) 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. For a fixed rate loan, the initial rate shall be the legal rate for the term of the loan. John R. Cox, Acting Assistant Administrator for Financial Assistance. [FR Doc. 94-1304 Filed 1-19-94; 8:45 am] BILLING CODE 8025-01-M