📺 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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- Rates Are Based on the Prime Rate – SBA loan interest rates are set as Prime Rate + 3% to 4%.
- Current Prime Rate Affects Loan Costs – As of January 2025, the Prime Rate is 7.5%, impacting loan interest rates.
- Rates Vary by Lender & Program – Different SBA lenders may offer slightly different terms within the SBA guidelines.
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%.
(As of today) Prime Rate is currently 7.00. On , Prime Rate was lowered .25 from 7.25 to 7.00.
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