BREAKING NEWS — 7(a) Fees Increased to 2% <$150k, 3% $150k-$700k, 3.75% Over $1MM Effective Thursday, March 27th
For 7(a) loans with a maturity that exceeds 12 months, the Upfront Fees are:
For loans of $150,000 or less: 2% of the guaranteed portion.
For loans of $150,001 to $700,000: 3% of the guaranteed portion.
For loans of $700,001 to $5,000,000: 3.5% of the guaranteed portion of the loan up to and including $1,000,000, plus 3.75% of the guaranteed portion over $1,000,000.
More later……….