Search Results for keywords:"interest rates"

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Search Results: keywords:"interest rates"

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  • 2025-04987 — Interest Rates
    Type:Notice
    Citation:90 FR 13652
    Reading Time:less than a minute

    The Small Business Administration (SBA) has announced its new Optional Peg Rate for the April to June quarter of 2025, which is set at 4.75 percent. This rate is used as a base for determining interest rates on certain SBA loans with fluctuating rates. Additionally, for a 504 project loan, the maximum allowable interest rate from a Third Party Lender is capped at 6% above the New York Prime rate, unless state laws or constitutions dictate a lower maximum.

    Simple Explanation

    The Small Business Administration (SBA) sets a new interest rate of 4.75% for some loans—and if a bank wants to loan money to help build something special, like a new building, their interest can be up to 6% higher than the New York bank's big number, unless a different rule says otherwise.

  • 2025-02228 — Quarterly Internal Revenue Service Interest Rates Used in Calculating Interest on Overdue Accounts and Refunds of Customs Duties
    Type:Notice
    Citation:90 FR 9036
    Reading Time:about 2 minutes

    The U.S. Customs and Border Protection agency has announced new interest rates for calculating interest on overdue accounts and refunds of customs duties, effective from January 1, 2025. For both corporations and non-corporations, the interest rate on underpayments will be 7 percent. The interest rate on overpayments will be 7 percent for non-corporations and 6 percent for corporations. These rates are based on the Federal short-term rate and have decreased from the previous quarter.

    Simple Explanation

    The U.S. Customs and Border Protection says that starting in January 2025, if someone owes money or is getting a refund for customs duties, both people and companies will pay or get back money at a 7% rate, except companies getting a refund, which is at a 6% rate. This means it might cost a bit less or give back a bit less money than before.

  • 2024-31199 — Interest Rates
    Type:Notice
    Citation:89 FR 106719
    Reading Time:less than a minute

    The Small Business Administration (SBA) has announced the Optional Peg Rate for the first quarter of fiscal year 2025, which is set at 4.38%. This rate serves as the base for determining interest rates on certain SBA loans featuring variable rates. Additionally, the maximum legal interest rate for Third Party Lender's commercial loans for 504 projects can be up to 6% above the New York Prime rate, subject to state law limitations.

    Simple Explanation

    The Small Business Administration (SBA) has set a new basic interest rate of 4.38% for some special loans they offer, and they allow other lenders to charge up to 6% more than a key bank rate unless state rules say otherwise.

  • 2025-01570 — Agency Collection Activities; Requesting Comments on Burden Related to Interest Rates and Appropriate Foreign Loss Payment Patterns of Certain Controlled Corporations
    Type:Notice
    Citation:90 FR 8102
    Reading Time:about 2 minutes

    The Internal Revenue Service (IRS) is asking for public comments on the information collection related to interest rates and foreign loss payment patterns for controlled corporations under section 954(i) of the Internal Revenue Code. This request, under the Paperwork Reduction Act of 1995, aims to reduce paperwork and analyze the collection burden on individuals and organizations. The IRS currently uses guidance from Notice 2002-69 for these calculations, and it seeks feedback on whether this collection is necessary and how it could be improved. Comments must be submitted by March 24, 2025, to ensure consideration.

    Simple Explanation

    The IRS is asking people to share their thoughts on how companies report certain financial information, like interest rates and money lost in other countries, so they can improve their rules and make it easier for everyone. They want to make sure rules from a long time ago still make sense and work well today.