Updated October 28, 2026
SBA loan rates today
The SBA caps what lenders can charge on a 7(a) loan at the prime rate plus a spread that shrinks as the loan gets bigger. Prime is 7.00%, so today's caps run from 10.00% to 15.00%.
Move the slider to see the cap for your loan size, then compare lenders who make SBA loans in your state and industry.
10.00%
Highest variable rate a lender can charge on a $500,000 SBA 7(a) loan.
Maximum SBA 7(a) rates by loan size
These are ceilings, not quotes. Strong borrowers often get a lower spread, especially on larger loans.
Variable rate
| Loan amount | Maximum spread | Maximum variable rate today |
|---|---|---|
| $50,000 or less | Prime + 6.5 | 13.50% |
| $50,001 to $250,000 | Prime + 6.0 | 13.00% |
| $250,001 to $350,000 | Prime + 4.5 | 11.50% |
| Over $350,000 | Prime + 3.0 | 10.00% |
Fixed rate
| Loan amount | Maximum spread | Maximum fixed rate today |
|---|---|---|
| $25,000 or less | Prime + 8.0 | 15.00% |
| $25,001 to $50,000 | Prime + 7.0 | 14.00% |
| $50,001 to $250,000 | Prime + 6.0 | 13.00% |
| Over $250,000 | Prime + 5.0 | 12.00% |
How 7(a) rates work, plus the SBA peg rate and Express loans
SBA 504 rates for October 2026
The SBA-backed 40% of a 504 loan carries a fixed rate set at a monthly bond sale. These are the effective rates from the October 8, 2026 pricing, including ongoing fees. The next pricing is November 5, 2026.
| 504 debenture term | Effective fixed rate |
|---|---|
| 25-year | 6.97% |
| 20-year | 6.97% |
| 10-year | 6.59% |
504 rate history and how the blended rate works
Find an SBA lender
Rates vary more between lenders than most borrowers expect. Start with lenders that are active in your state and your industry.
- Live Oak Bank NC
- Huntington Bank OH
- Newtek Bank FL
- Wells Fargo SD
- Frost Bank TX
- UMB Bank MO
- Comerica TX
- Zions Bank UT
See all lenders · Top SBA lenders by volume
SBA loans by industry
- Lessors of Miniwarehouses and Self-Storage Units
- Appliance Repair and Maintenance
- All Other Support Services
- Convenience Stores
- Administrative Management and General Management Consulting Services
- Horse and Other Equine Production
- All Other Grain Farming
- All Other Pipeline Transportation
- Golf Courses and Country Clubs
- Beer, Wine, and Liquor Stores
- All Other Miscellaneous Food Manufacturing
- All Other Miscellaneous Manufacturing
- Full-Service Restaurants
- Offices of Dentists
- Hotels (except Casino Hotels) and Motels
- Child Day Care Services
- Breweries
- All Other Miscellaneous Ambulatory Health Care Services
Common questions
What are current SBA loan rates?
With the prime rate at 7.00%, the maximum variable rate on an SBA 7(a) loan ranges from 10.00% for loans over $350,000 to 13.50% for loans of $50,000 or less. Fixed-rate 7(a) caps run from 12.00% to 15.00%. SBA 504 loans priced in October 2026 at 6.59% to 6.97% fixed.
Who sets SBA loan rates?
Your lender sets your rate. The SBA only sets the maximum a lender may charge, as prime (or the SBA peg rate) plus a spread that depends on the loan amount. 504 rates are different: the SBA-backed portion is priced at a monthly bond sale.
What is an SBA-approved lender?
Any bank, credit union or other lender that has an agreement with the SBA to make guaranteed loans. Preferred Lenders (PLP) can approve SBA loans in-house, which is usually faster. Use the lender directory to compare lenders.
Do SBA rates change when the prime rate changes?
Variable-rate 7(a) loans reset with prime, usually monthly or quarterly. Prime rose from 6.75% to 7.00% on September 17, 2026, so maximum variable rates rose a quarter point the same day. Fixed 7(a) and 504 rates are locked at closing.
Sources: SBA 7(a) terms, conditions and maximum variable rates; Federal Reserve H.15 selected interest rates (bank prime loan rate); October 2026 SBA 504 debenture pricing, as published by CDCs; SBA FOIA 7(a) and 504 loan-level data.