Calculator
Is the rate you were quoted fair?
Enter what you were offered. We will tell you what borrowers in the same industry, at the same loan size, actually got — from the federal record of every SBA loan.
Exactly as written. If it says 10.75%, use 10.75%.
Published by the Wall Street Journal. Use the rate on the date of your quote, not today's, if the quote is a few months old.
This markup is what gets compared — not the headline rate. It is what makes a quote from 2024 comparable to one today.
Variable-rate loans only. Roughly a fifth of SBA loans are fixed, and those are not priced off prime at all. If yours is fixed, this comparison does not apply to it.
Where your quote sits
markup over prime, comparable loansThe markup is the negotiable part of an SBA loan, and most borrowers never try. A quarter point on a $650,000 ten-year loan is roughly $9,000. Knowing what other people paid is the whole of your leverage.
Why compare the markup rather than the rate? Because prime moves and the markup does not. Across FY2014 to FY2026 prime ranged from 3.25% to 8.50%, and the median markup sat at 2.75% at both ends — the correlation between the two is effectively zero. So a borrower who signed in 2024 and one signing today are directly comparable, even though their headline rates differ by more than a point.
Common questions
What is a normal SBA 7(a) interest rate?
Across 235,484 loans funded in FY2022–2026, the median was 10.0%, with the middle half between 8.25% and 11.25% — typically prime + 2.5%. See the full breakdown.
Can I negotiate my SBA interest rate?
Yes. The base rate (prime) is fixed, but the lender’s markup over prime is negotiable within the SBA’s cap. The median markup is prime + 2.49%; on a $500,000 loan, a point or two of spread is tens of thousands of dollars over the life of the loan.
Is a fixed or variable SBA rate better?
About 85% of 7(a) loans are variable and reset with prime, usually quarterly. Variable typically starts lower; fixed protects you if rates rise. Which wins depends on where rates go — nobody knows, so weigh your own tolerance for a rising payment.
Read the guide
Want the rules behind this calculator? SBA loan rates and maximum spreads walks through it in plain English — the SBA requirements, the data, and what lenders actually look for.