Small company loans FAQ. Do you know the features of an SBA loan?

Small company loans FAQ. Do you know the features of an SBA loan?

Prices

What’s going to my interest be?

Interest levels for SBA 7(a) loans are adjustable and rely on the mortgage quantity:

SBA 7(a) performing Capital and Debt Consolidation / Refinance

  • 6.00% (Prime speed plus 2.75%) for loans $50,001 – $350,000
  • 7.00per cent (Prime speed plus 3.75%) for loans $30,000 – $50,000
  • SBA 7(a) Commercial Real Estate Loans

  • 4.75% to 6.00per cent (Loans have adjustable price of 1.50percent to 2.75percent) for loans $500,000 – $5 million
  • Bank Term Loans

  • Fixed rate of interest – 7.99% – 24.99% (predicated on borrowers company credit and economic profile since well as the expression of loan)
  • Are there any other expenses or charges?

    SBA 7(a) Working Capital or Debt Consolidation / Refinance Loans: Banking institutions in the network that is smartBiz charge a one-time application cost of a maximum of $3,000. The SBA charges a warranty cost. For loans around $150,000, the SBA guarantee cost is normally 1.7percent of this loan quantity (or 2% of this guaranteed portion). Exception: For 7(a) loans in a qualified Rural Area or HUBZone the guarantee cost is paid down by about 67%. Continue reading →