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UNITED STATES v. McREYNOLDS

No. 86-4367 Summary Calendar.

809 F.2d 1047 (1986)

UNITED STATES of America, Plaintiff-Appellee, v. M.L. McREYNOLDS, Defendant-Appellant.

United States Court of Appeals, Fifth Circuit.

October 23, 1986.

Attorney(s) appearing for the Case

H.J. Davidson, Jr., Carter & Davidson, Columbus, Miss., for defendant-appellant.

E. Roy Hawkens, Atty., Civ. Div., Appellate Section, Dept. of Justice, Robert S. Greenspan, Atty., Washington, D.C., Glen H. Davidson, U.S. Atty., Patricia D. Rogers, Asst. U.S. Atty., Robert Q. Whitwell, U.S. Atty., Oxford, Miss., William E. Chapman, III, Dist. Atty., Jackson, Miss., for plaintiff-appellee.

Before RUBIN, RANDALL, and HIGGINBOTHAM, Circuit Judges.

ALVIN B. RUBIN, Circuit Judge:

The United States seeks to collect the balance due on a Small Business Administration Loan. The district court correctly held that the applicable statute of limitations is fixed by federal, not state law; the interest rate was not usurious; and the facts concerning the rate of interest and its legitimacy were properly procured. Accordingly, we affirm.

I.

M.L. McReynolds borrowed $300,000 from the National Bank of Commerce...

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