Manage episode 237722665 series 2518941
One of the first questions business owners ask when applying for a loan is what is the interest rate. In this episode of SBA FM you will learn how SBA 7(a) guaranteed loan interest rates are determined and what to expect in your own situation. SBA 7(a) guaranteed loan interest rates are determined by three factors: the SBA Standard Operating Procedure manual, The lending institution which is reviewing the loan application and the economic market conditions at the time of the loan application. Page 154 of the SBA Standard Operating Procedure manual includes a quick reference chart that outlines the maximum allowable interest rate charged by SBA Preferred Lending Partners categorized by loan amounts, loan maturities and loan programs.