SBA 7A - what defines a great deal today?

November 19, 2023
by a searcher from University of Houston, Downtown in Houston, TX, USA
Hi all,
I am in the middle of my first time acquisition. Shopping for a loan with three different banks. Just got my first proposal in.
Please share thoughts on what are the current benchmark and what makes a good from a bad deal based on todays rates.
Proposal:
3 year fixed rate at Prime + 1.50% and prime + 2.25% floating rate for the remaining 7 years.
from Indiana University at Bloomington in Carmel, IN, USA
Some bankers are trying to hit their numbers for the year right now as well, but too late to close by###-###-#### Bankers do consider equity, assets and experience into the rate. But your first quote is not bad.
from Eastern Illinois University in 900 E Diehl Rd, Naperville, IL 60563, USA