📺 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?
- 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.
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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Written By
Alex McAloon
June 11, 2024
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