BREAKING NEWS – SBA Raises Maximum Variable Interest Rate to Prime +3 for Loans over $350,000
August 4, 2022
Delaney Sexton
Contributing Editor
BREAKING NEWS – SBA Raises Maximum Variable Interest Rate to Prime +3 for Loans over $350,000
Effective August 1, 2022
Variable Maximum Interest Rates for SBA 7(a) Loans
$50,000 and Less –Prime + 6.5
$50,001 to $250,000 — Prime + 6.0
$250, 001 to $350,000 — Prime + 4.5
Over $350,000 — Prime + 3.0
Source:
Federal Register June 30, 2022
For an in-depth discussion of this new rule and other guidelines lenders must follow for variable rate and fixed rate loans, join Bob Coleman Wed, August 10th “Are you Compliant with SBA’s SOP Regulations about Prime Interest Rate Increases?”