SBA 7(a) loan: fee, maximum rate, payment and total cost

Example amount: type yours. Up to $5,000,000; half of last year’s 7(a) loans were for $220,000 or less.

Buying a business, equipment or working capital: up to 10 years, unless real estate is most of the loan. Real estate: up to 25 years.

The prime rate is the base rate banks lend from: 7.00% today. A variable SBA rate is prime plus a margin that stays the same for the life of the loan.

Example until you type yours: the median rate for this amount, today’s prime 7.00% plus the median margin (the part of the rate above prime) paid on last year’s loans of this size.

No SBA fee on loans up to $700,000 approved from October 1, 2026 for: manufacturers (industry code, called NAICS, starting with 31, 32 or 33, such as a machine shop or a food processor), farms and the food businesses on SBA’s list, and businesses in a rural area. Your lender confirms it from your industry code and your address.

Example, not your result yet· change a figure to see yours

Monthly payment

$1,344

SBA guaranty fee, added to the loan$1,700
SBA cap (highest rate)13.00%
Interest, all years$59,577
Total: fee + interest$61,277
True yearly cost, fee included10.40%
Your rate vs. last year’s loansabout the median for this size

Prime rate 7.00% on November 2, 2026. SBA fee for loans approved from October 1, 2026. Your rate is compared on its margin over prime, so the change in prime since last year does not count against you. Last year’s loans: the 7(a) loans SBA approved from October 1, 2025 to September 30, 2026 (fiscal year 2026), in SBA’s public loan file of September 30, 2026.

How the cost is worked out

SBA Loan Costs · Independent tool by Radif Partners, not a lender and not affiliated with the U.S. Small Business Administration · worked out in your browser

Loan counts, amounts and rates: U.S. Small Business Administration, 7(a) & 504 FOIA data (U.S. Government Works), file as of September 30, 2026; calculations by Radif Partners. The SBA has not reviewed or endorsed this site.