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
SBA 7(a) Commercial Real Estate Loans
Bank Term Loans
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 →