13 C.F.R. § 123.203 What interest rate will my business pay on a physical disaster business loan and what are the repayment terms?
Title 13 - Business Credit and Assistance
(a) SBA will announce interest rates with each disaster declaration. If your business, together with its affiliates and principal owners, have credit elsewhere, your interest rate is set by a statutory formula, but will not exceed 8 percent per annum. If you do not have credit elsewhere, your interest rate will not exceed 4 percent per annum. The maturity of your loan depends upon your repayment ability, but cannot exceed 3 years if you have credit elsewhere. Otherwise, the maximum maturity is 30 years. (b) Generally, you must pay equal monthly installments, of principal and interest, beginning five months from the date of the loan as shown on the Note. SBA will consider other payment terms if you have seasonal or fluctuating income, and SBA may allow installment payments of varying amounts over the first two years of the loan. There is no penalty for prepayment for disaster loans.
Title 13: Business Credit and Assistance
PART 123—DISASTER LOAN PROGRAM
Subpart C—Physical Disaster Business Loans
§ 123.203 What interest rate will my business pay on a physical disaster business loan and what are the repayment terms?
