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SBA

RIN: 3245-AG03

Publication ID: Fall 2010

Title: Interest Rate--Resetting Fixed Interest Rate
Abstract: SBA currently offers either a fixed or variable interest rate for 7(a) loans. In addition to these rates, the Agency is working to develop a shorter term fixed interest rate with the ability to be re-set at periodic intervals. This type of rate is currently available in the commercial market place and will help provide additional options for small business borrowers. By authorizing this option, SBA is recognizing a need to allow lenders to utilize market opportunities. For example, SBA recently revised its rules to allow the use of LIBOR.
Agency: Small Business Administration(SBA)	Priority: Other Significant
RIN Status: Previously published in the Unified Agenda	Agenda Stage of Rulemaking: Proposed Rule Stage
Major: No	Unfunded Mandates: No
CFR Citation: 13 CFR 120
Legal Authority: 15 USC 634

Legal Deadline:  None

Timetable: Action Date FR Cite NPRM  07/00/2011

Regulatory Flexibility Analysis Required: Yes	Government Levels Affected: None
Small Entities Affected: Businesses	Federalism: No
Included in the Regulatory Plan: No
RIN Data Printed in the FR: Yes
Agency Contact: Grady Hedgespeth Director, Office of Financial Assistance Small Business Administration 409 Third Street SW., Washington, DC 20416 Phone:202 205-7562 Fax:202 481-0248 Email: grady.hedgespeth@sba.gov