Current SBA 7(a) interest rates for 2026. Variable and fixed rate options, SOFR-based pricing, and how rates change by loan size and lender.
SBA 7(a) loan interest rates are determined by adding a lender's spread to a base rate. The base rate can be the Wall Street Journal (WSJ) Prime Rate, the Secured Overnight Financing Rate (SOFR), or another acceptable rate. The spread depends on the loan size and term.
The WSJ Prime Rate and SOFR are commonly used as base rates for variable interest loans. As of early 2026, the WSJ Prime Rate is approximately 8.25% and SOFR is around 5.0%.
Fixed rates are also available for SBA 7(a) loans, providing stability in repayment amounts over the loan term. These rates are typically higher than variable rates, ranging from 11-14% as of early 2026.
The SBA sets maximum spreads over the base rate, which vary by loan size:
As of early 2026, the WSJ Prime Rate is approximately 8.25%, while the SOFR is around 5.0%. These rates are subject to change based on economic conditions.
Borrowers are currently seeing effective variable rates of approximately 10-13% and fixed rates ranging from 11-14%.
SBA Express loans have different rate structures:
| Loan Type | Base Rate | Maximum Spread | Approximate Effective Rate |
|---|---|---|---|
| SBA 7(a) Loans (Over $50K) | Prime | + 3% | 10-13% |
| SBA 7(a) Loans ($25K-$50K) | Prime | + 4% | 11-14% |
| SBA 7(a) Loans (Under $25K) | Prime | + 5.5% | 11-14% |
| SBA Express Loans (Up to $50K) | Prime | + 4.5% | 11-14% |
| SBA Express Loans (Above $50K) | Prime | + 6.5% | 12-15% |
As of early 2026, the WSJ Prime Rate is approximately 8.25%.
SOFR is generally lower than the Prime Rate. As of early 2026, SOFR is around 5.0%, compared to the Prime Rate of approximately 8.25%.
Fixed rates offer payment stability, while variable rates may start lower but can increase over time. The choice depends on the borrower's risk tolerance and financial strategy.
The maximum rate for SBA Express loans is Prime + 4.5% for loans up to $50,000 and Prime + 6.5% for loans above $50,000.
SBA 7(a) loan rates can change quarterly, based on adjustments to the base rate (Prime or SOFR) and economic conditions.
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