Current SBA Loan Rates 2023 (2023)

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US Small Business Administration (SBA) loans can be a great way for startups and other small business owners to access affordable finance. While the application process is often lengthy and competitive, SBA loans offer more affordable rates than many other forms of business finance.

Here are the SBA loan interest rates you should know before applying for financing:

loan programrates
SBA 7(a) (variable rates)7% - 9,5%
SBA 7(a) (flat fees)9,75% - 12,75%
SBA Express9,25% - 11,25%
CDC part of CDC/5044,922% - 5,20%
SBA Microloan6% - 9%
SBA Economic Injury Disaster Loan (EIDL)2,75% - 3,75%

SBA Estimated Loan Rates in July 2022

SBA loan rates vary based on many factors, including the loan program, amount, and term. Most SBA rates are also tied to the base, Treasury, or other base rate, with maximum rates set at a specific amount above that base. Depending on the loan program, interest rates can be fixed or variable, and rates can be negotiated by the lender and borrower or set by the SBA. that's why hebest small business loansThey vary depending on the borrower and the type of loan.

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US$ 6.000 a US$ 250.000

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As low as 6.2%

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US$ 5.000 a US$ 500.000

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Purchase fees start at 1.10%

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Tarifas SBA 7(a)

The SBA 7(a) program offers several loan options of up to $5 million, with terms of up to 25 years. The funds can be used to cover working capital, equipment purchases and the cost of expanding the business. Loans can come with fixed or variable rates. Please note that variable rates may fluctuate based on publicly available base rates and require SBA approval.

SBA-approved individual lenders can determine fees, but must meet the maximums set by the SBA. For example, the interest rate on an SBA 7(a) loan cannot exceed a certain percentage above a standard base rate, such as the Prime Rate (4.75% as of July 2022).

SBA 7(a) Variable Rates

loan amountLoans with terms of less than 7 yearsLoans with a term equal to or greater than 7 years
standard rateMaximum floating rate (with current base rate of 4.75%)standard rateMaximum floating rate (with current base rate of 4.75%)
US$ 0 - US$ 25.000Base + 4,25%9%Base + 4,75%9,5%
$ 25.001 - $ 50.000Base + 3,25%8%Base + 3,75%8,5%
$50,000 or moreBase + 2,25%7%Base + 2,75%7,5%

SBA Loan Rates July 2022

SBA 7(a) Flat Fees

loan amountmaximum fixed rateFixed maximum allowed (with current preferential rate of 4.75%)
US$ 0 - US$ 25.000Prime + 8,0%12,75%
$ 25.001 - $ 50.000Prime + 7,0%11,75%
$ 50.001 - $ 250.000Prime + 6,0%10,75%
Over $250,000Prime + 5,0%9,75%

SBA Loan Rates July 2022

SBA Express Loan Rates

An Express loan is a type of 7(a) loan that offers borrowers faster approval times than other SBA loans – 24 to 36 hours. Loans of up to $500,000 are available, with maximum terms of seven to 25 years, depending on the type of financing.

As with other 7(a) loans, lenders and borrowers negotiate the interest rate, but rates generally depend on the loan amount and cannot exceed the maximum set by the SBA.

loan amountmaximum rateMaximum rate allowed (with current base rate of 4.75%)
$50,000 or lessPrime + 6,5%11,25%
Over $50,000Prime + 4,5%9,25%

SBA Loan Rates July 2022

Featured partner offers

1

on deck

loan amounts

US$ 5.000 a US$ 250.000

ABR

Start at 29.9%

minimum credit score

625

1

on deck

To know more

Through the Ondeck website

2

AzulVina

loan amounts

US$ 6.000 a US$ 250.000

ABR

As low as 6.2%

minimum credit score

625

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To know more

No site da BlueVine

3

National Financing

loan amounts

US$ 5.000 a US$ 500.000

ABR

Purchase fees start at 1.10%

minimum credit score

600

3

National Financing

To know more

On the National Financing website

CDC/504 Loan Rates

SBA 504 loans, offered by Certified Development Companies (CDCs), can be used to promote business growth and job creation, for example, through the purchase of land, buildings or major equipment, with loan amounts of up to US$ 5 million. That said, proceeds from the loan cannot be used to buy inventory, refinance or pay off debt, or invest in real estate; similarly, 504 loans cannot be used as a source of working capital.

Borrowers can choose between 10 and 20-year repayment terms, with the loan secured by personally funded assets secured by the borrower. Funding for the CDC/504 loan comes from a CDC (40%), a bank or credit union (50%) and the borrower (10%). Interest rates are fixed for the entire term of the loan and are tied to current five-year and ten-year US Treasury rates.

TermEstimated effective interest rate
10 years5,08%
20 years5,12%

SBA Estimated Loan Rates in July 2022

SBA Microcredit Rates

The SBA microcredit program allows small business owners to borrow up to $50,000 to cover start-up and expansion costs. However, the average microcredit is much lower: just $13,000. Repayment terms can be up to six years, but ultimately depend on the loan amount, proposed use, and specific lender requirements.

As with many other SBA loans, interest rates depend on the individual lender, but generally range from 8% to 13%. Many SBA microloans are also secured by the asset being financed or other collateral, and borrowers must personally guarantee the loan amount.

loan amountmaximum interest rate
$10,000 or less8.50% on the cost of intermediary funds
Over $10,0007.75% on the cost of intermediary funds

SBA Loan Rates July 2022

Economic disaster lending rates (EIDL)

Economic Disaster Loans (EIDLs) are a type of financing from the SBA that provide loans of up to $2 million. Unlike other SBA loans, EIDLs are not limited to small businesses, but borrowers must demonstrate substantial and sustained economic damage due to a declared disaster. Loan terms can be up to 30 years and interest rates cannot exceed 4%.

Type of Businessfixed interest rate
for profit3,75%
Non-profit2,75%

EIDL rates as of July 2022

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Frequently Asked Questions (FAQ)

How are SBA loan interest rates calculated?

In general, interest rates on SBA loans are calculated based on a number of factors, including the loan program and base rates such as the prime rate and Treasury rates. However, SBA loan rates also depend on the loan amount, the creditworthiness of the borrower, the individual lender's requirements, and whether the rates are fixed or variable.

Borrowers who are tryingget a business loanyou should compare all applicable loan programs and offers from individual lenders when choosing an SBA loan.

Do SBA loans come with fixed rates?

SomeSBA loansthey carry fixed rates, while others come with the option of fixed or variable rates, or have a combination of the two. For example, all loans available through the EIDL program have a flat rate of 2.75% or 3.75%, depending on whether the borrower is a for-profit business. SBA 7(a) loans, on the other hand, can have a fixed or variable rate, with variable rates requiring explicit SBA approval.

What is the maximum interest rate for an SBA loan?

The maximum SBA loan interest rate varies by loan program and loan amount, but the highest rate currently set by the SBA is for SBA 7(a) fixed rate loans up to $25,000. Likewise, the SBA Express loan program features a maximum rate of 10% for loans up to $50,000 and 8% for loans over $50,000 (based on a base interest rate of 3.50%). Other SBA loan programs have lower maximum rates, such as 504 loan rates that vary based on current five- and ten-year US Treasury rates.

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