๐บ What's the Interest Rate for SBA Working Capital Loans?
Alex McAloon, CEO of FastWay SBA, answers one of the most frequently asked questions- What is the Interest Rate for SBA Loans?
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Have any questions about SBA loans? Give us a call. We are open from 8am - 6pm (EST) Monday to Friday. We look forward to speaking with you (646) 969 9071
- Rates Are Based on the Prime Rate โ SBA loan interest rates are set as Prime Rate + 3% to 4%.
- Current Prime Rate Affects Loan Costs โ As of January 2025, the Prime Rate is 7.5%, impacting loan interest rates.
- Rates Vary by Lender & Program โ Different SBA lenders may offer slightly different terms within the SBA guidelines.
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Written By
Alex McAloon
June 11, 2024
Alex McAloon, CEO of FastWay SBA, answers one of the most frequently asked questions - "What is the interest rate for SBA working capital loans?"
Transcript:
Based on the prime rate, which is currently 8.5%, the interest rate for different programs and lenders will typically be an additional 3 to 4%.
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** As of January 2025 Prime rate is now 7.5%
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