Last updated: March 5, 2026 · Prime Rate: 6.75% (effective December 11, 2025) · Sources: SBA.gov, Federal Reserve
SBA loan rates today range from 9.00% to 13.25% for 7(a) loans, approximately 6.5%–7.0% for 504 loans, and up to 13.25% for SBA Express loans. Rates depend on your loan size, term length, and whether you choose a fixed or variable rate. Below is a complete breakdown of every SBA loan program’s current rates, how they’re calculated, and how to secure the lowest rate available.
| Loan Type | Current Rate Range |
|---|---|
| SBA 7(a) Standard (over $350K) | 9.00% – 9.75% |
| SBA 7(a) ($250K–$350K) | 9.00% – 11.25% |
| SBA 7(a) ($50K–$250K) | 9.00% – 12.75% |
| SBA 7(a) ($50K or less) | 9.00% – 13.25% |
| SBA 504 (CDC portion) | ~6.75% fixed (debenture rate) |
| SBA Express | Up to 13.25% |
Today’s SBA 7(a) Loan Rates
The SBA 7(a) loan program is the most popular SBA loan, and its interest rates are tied to the Wall Street Journal Prime Rate, currently at 6.75% following the Federal Reserve’s December 2025 rate cut. The SBA sets maximum spreads lenders can charge above prime — the actual rate you receive depends on your loan size and term length.
Here’s the key thing most borrowers don’t realize: loan size is the single biggest factor determining your rate. A $500,000 acquisition loan will carry a significantly lower rate than a $40,000 working capital loan — even if the borrower profiles are identical.
SBA 7(a) Variable Rate Maximum Spreads
The SBA caps the maximum spread lenders can charge above the base rate. These maximums come directly from the SBA Standard Operating Procedures:
| Loan Size | Max Spread (All Maturities) | Current Max Rate |
|---|---|---|
| Over $350,000 | Prime + 3.0% | 9.75% |
| $250,001 – $350,000 | Prime + 4.5% | 11.25% |
| $50,001 – $250,000 | Prime + 6.0% | 12.75% |
| $50,000 or less | Prime + 6.5% | 13.25% |
Fixed Rate Maximums (Additional Spread)
If you opt for a fixed-rate SBA 7(a) loan, lenders can charge an additional spread on top of the variable rate maximums above — but only for loans with maturities over 7 years:
- Maturity ≤ 7 years: Same as variable rate maximums (no additional spread)
- Maturity > 7 years: Variable max + 1.0% additional
| Loan Size | Variable Max | Fixed Max (>7yr) |
|---|---|---|
| Over $350,000 | 9.75% | 10.75% |
| $250,001 – $350,000 | 11.25% | 12.25% |
| $50,001 – $250,000 | 12.75% | 13.75% |
| $50,000 or less | 13.25% | 14.25% |
In practice: Most business acquisition loans over $350,000 are priced at prime + 2.25% to prime + 2.75% — that’s 9.00% to 9.50% today. Lenders rarely charge the SBA maximum on larger, well-qualified deals. The maximum spreads matter most for smaller loans where lender risk is higher.
Want to see how these rates translate to monthly payments? Use our SBA loan calculators to model different scenarios.
SBA 504 Loan Rates Today
SBA 504 loan rates work fundamentally differently from 7(a) rates. The 504 program is designed for major fixed-asset purchases — commercial real estate and heavy equipment — and offers some of the lowest long-term fixed rates available to small businesses.
The 504 loan structure has three components:
- First mortgage (conventional lender): ~50% of project cost, market rate
- CDC/SBA portion: ~40% of project cost, fixed debenture rate
- Borrower equity: 10% (15% for startups or special-purpose properties)
The CDC/SBA portion — the part that makes 504 loans attractive — carries a fully fixed rate set monthly based on current 5-year and 10-year U.S. Treasury rates plus a small spread. Current effective rates on the CDC portion are approximately 6.5% to 7.0%.
Because 504 rates are pegged to Treasury yields rather than the prime rate, they can offer significantly lower rates than 7(a) loans — especially for long-term financing. A 20- or 25-year fully fixed rate near 6.75% is difficult to match with any other small business financing product.
Best for: Purchasing commercial property, constructing new facilities, or buying heavy equipment with a long useful life. If your primary need is real estate, the 504 is almost always the better rate play. Calculate your 504 loan payment here.
SBA Express Loan Rates Today
SBA Express loans trade speed for cost. The program offers SBA-backed loans up to $500,000 with approval decisions in as little as 36 hours — far faster than the 2–6 week standard 7(a) timeline.
The tradeoff is higher rate caps:
| Loan Amount | Max Spread | Current Max Rate |
|---|---|---|
| $50,000 or less | Prime + 6.5% | 13.25% |
| Over $50,000 | Prime + 4.5% | 11.25% |
For Express loans over $50,000, lenders have more flexibility in setting rates, and the SBA’s maximum spread guidelines are less restrictive than standard 7(a). In practice, expect Express loan rates in the 9.75% to 13.25% range depending on loan size and borrower strength.
SBA Express is ideal when you need capital quickly — lines of credit, short-term working capital, or time-sensitive opportunities. But if you’re not in a rush, a standard 7(a) loan will almost always offer a better rate.
Base Rates Reference Table
All SBA loan rates are built on underlying benchmark rates. Here are the current base rates that drive SBA loan pricing:
| Benchmark Rate | Current Value | Last Updated |
|---|---|---|
| WSJ Prime Rate | 6.75% | Dec 11, 2025 |
| Federal Funds Rate | 3.50% – 3.75% | Dec 11, 2025 |
| SOFR (30-day avg) | ~3.67% | Current |
| SOFR (90-day avg) | ~3.71% | Current |
| 5-Year Treasury | ~3.63% | Current |
| 10-Year Treasury | ~4.06% | Current |
| 30-Year Treasury | ~4.70% | Current |
The WSJ Prime Rate is the most important number for SBA 7(a) borrowers — it’s the base that all 7(a) rate spreads are added to. When the Federal Reserve cuts the federal funds rate, the prime rate typically drops by the same amount, which directly lowers SBA 7(a) loan rates.
The Fed cut rates three times in late 2024 and early 2025, bringing the prime rate down from 8.50% to 6.75%. Markets anticipate potential additional cuts in 2026, which could push SBA 7(a) rates lower.
SBA Loan Rates by Loan Type — Side-by-Side Comparison
Choosing between SBA loan programs? Here’s how the three main options compare on every key metric:
| Feature | SBA 7(a) | SBA 504 | SBA Express |
|---|---|---|---|
| Maximum Loan | $5,000,000 | $5,500,000 | $500,000 |
| Rate Type | Variable or Fixed | Fixed (CDC portion) | Variable or Fixed |
| Current Rate Range | 9.00% – 13.25% | ~6.5% – 7.0% | 9.75% – 13.25% |
| Loan Term | 7 – 25 years | 10 – 25 years | Up to 25 years |
| Approval Time | 2 – 6 weeks | 45 – 90 days | 36 hours |
| SBA Guarantee | 75% – 85% | Up to 40% (CDC portion) | 50% |
| Best For | Business acquisitions, working capital, general purpose | Commercial real estate, heavy equipment | Quick funding, lines of credit |
Quick rule of thumb: If you’re buying a business or need flexible funds, go 7(a). If you’re buying real estate or major equipment, go 504 for the lowest fixed rate. If speed is critical, go Express — but expect to pay more for the convenience.
For a deeper dive into how these programs compare, read our comprehensive guide to SBA loan interest rates.
What Affects Your SBA Loan Rate
While the SBA sets maximum rate caps, your actual rate depends on several factors that lenders evaluate:
1. Loan Size
This is the single biggest factor. As shown in the rate tables above, a loan over $350,000 has a maximum spread of prime + 3.0%, while a loan under $50,000 allows prime + 6.5%. The difference between a $400K loan and a $40K loan can be over 3 percentage points.
2. Fixed vs. Variable Rate
Choosing a fixed rate on a loan with maturity over 7 years adds up to 1.0% to your maximum rate. In the current declining-rate environment, many borrowers opt for variable rates to benefit from potential future Fed cuts — but fixed rates offer payment certainty.
3. Credit Score
Most SBA lenders require a minimum credit score of 680, but borrowers with scores of 700+ consistently receive better rates. A strong personal credit profile signals lower risk and gives lenders confidence to price below the SBA maximum.
4. Business Cash Flow and DSCR
Your Debt Service Coverage Ratio (DSCR) — how much cash flow your business generates relative to debt payments — is critical. A DSCR of 1.25x or higher signals a healthy business and gives you negotiating leverage on rate.
5. Industry Risk
Some industries carry higher default rates, which affects lender pricing. Restaurants, for example, may face higher rates than medical practices due to historical performance data.
6. Which Lender You Use
This is the factor most borrowers overlook. SBA loan rates vary significantly from lender to lender — even for the same borrower and same loan. One lender might offer prime + 2.25% while another quotes prime + 3.0% on a $500K acquisition. That difference saves (or costs) thousands over the life of the loan. Browse our SBA lender directory to compare options.
How to Get the Lowest SBA Loan Rate
Securing the best possible SBA rate isn’t luck — it’s strategy. Here’s what works:
Work With a Broker Who Shops Multiple Lenders
A single lender gives you one offer. An experienced SBA loan broker shops your deal across 50+ lenders to find the best rate and terms. At GoSBA Loans, we regularly save clients 0.5%–1.0% compared to going directly to their bank — on a $500K loan over 10 years, that’s $15,000–$30,000 in savings.
Target Larger Loan Amounts
If your project naturally falls near a rate tier boundary (like $340K), it may be worth structuring the deal slightly larger to qualify for the $350K+ tier with its lower maximum spread.
Build a Strong Application Package
A DSCR of 1.25x or higher, clean personal credit (700+), and a professional business plan signal to lenders that you’re a low-risk borrower deserving of a lower rate. GoSBA provides free business plan preparation — a service that typically costs $2,500–$5,000 from consultants — included with every loan engagement.
Consider Variable Rates in a Declining-Rate Environment
With the Federal Reserve having cut rates multiple times and markets anticipating potential additional cuts in 2026, a variable-rate SBA loan lets you benefit from each reduction. If prime drops from 6.75% to 5.75%, your loan rate drops with it automatically.
Get Started
Ready to find out what rate you qualify for? Contact our SBA loan team for a free rate quote. We’ll match you with the lender offering the lowest rate for your specific situation — no obligation, no cost.
Frequently Asked Questions
What is the current SBA 7(a) loan rate today?
As of March 2026, SBA 7(a) loan rates range from 9.00% to 13.25% depending on loan size. Rates are based on the WSJ Prime Rate (currently 6.75%) plus an SBA-regulated spread. Loans over $350,000 have the lowest rates (prime + 3.0% max = 9.75%), while loans under $50,000 carry the highest (prime + 6.5% max = 13.25%). Most well-qualified borrowers with larger loans pay around 9.00%–9.50%.
What is the SBA 504 loan rate today?
Current SBA 504 loan rates on the CDC/SBA portion are approximately 6.5% to 7.0%, fully fixed for 10, 20, or 25 years. These rates are tied to U.S. Treasury yields, not the prime rate, making them lower and more stable than 7(a) rates. The 504 program is specifically designed for commercial real estate and heavy equipment purchases.
Are SBA loan rates going down in 2026?
SBA 7(a) rates have already come down significantly — the prime rate dropped from 8.50% to 6.75% following Federal Reserve rate cuts in late 2024 and 2025. Whether rates continue falling depends on future Fed actions. Market expectations suggest potential additional cuts in 2026, but this depends on inflation and economic conditions. Variable-rate SBA borrowers benefit automatically when rates drop.
What is the lowest SBA loan rate available?
The lowest SBA rates are found in the 504 program at approximately 6.5%–7.0% (fully fixed). For 7(a) loans, the floor is typically around 9.00% (prime + 2.25%) for large, well-qualified deals over $350,000. Actual rates vary by lender — working with a broker who shops multiple lenders is the best way to find the lowest available rate.
How is the SBA loan rate calculated?
SBA 7(a) rates are calculated as a base rate plus a spread. The base rate is typically the WSJ Prime Rate (6.75% today). The spread is negotiated between borrower and lender, subject to SBA maximums that vary by loan size. For example, a $500K loan might be priced at prime + 2.50% = 9.25%. The SBA sets the ceiling; lenders compete below it.
Fixed or variable rate — which is better for SBA loans?
It depends on the rate environment. In today’s declining-rate environment, variable rates let you benefit from future Fed cuts — if prime drops another 1%, your rate drops too. Fixed rates offer payment certainty and protection if rates rise unexpectedly. Fixed rates on SBA 7(a) loans cost up to 1% more for terms over 7 years. For 504 loans, fixed is standard and often the better value.
Do all SBA lenders charge the same rate?
No — and this is one of the biggest misconceptions about SBA loans. While the SBA sets maximum rates, lenders have full discretion to price below those caps. Two lenders can quote rates 0.5%–1.5% apart on the exact same deal. This is why working with an SBA loan broker who shops your deal across multiple lenders can save thousands. Get a free rate comparison here.
Can I refinance my SBA loan if rates drop?
Yes, SBA loan refinancing is available under certain conditions. You can refinance an existing SBA loan with a new SBA loan if it results in a meaningful benefit — typically a lower rate or better terms. The new loan must demonstrate at least a 10% reduction in payment or provide additional working capital. With rates having dropped significantly from their 2023–2024 peaks, many borrowers with older SBA loans are refinancing now. Contact us to evaluate your refinancing options.
