SBA: What's a good Prime+ rate?

searcher profile

September 12, 2023

by a searcher in Petaluma, CA, USA

Are any lenders offering Prime + 0%? Prime###-###-#### %?

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commentor profile
Reply by a lender
from Eastern Illinois University in 900 E Diehl Rd, Naperville, IL 60563, USA
We are a Commercial Loan Brokerage shop with over 500 funding partners and over 50 SBA funding partners. I would say the vast majority, 95%+ of SBA lenders, are providing variable rate SBA 7A loans. Those that are offering fixed rates, the rates tend to be a bit higher and they are very selective in the deals they will offer them on. Most of the pricing we are seeing get done is in the Prime + 1.50% to Prime + 2.50% range. If there is real estate involved the rate tends to get lower than a deal that is all business assets. I have not seen anyone pricing deals right around Prime, at least not any of the specialty SBA shops. I hope this helps.
commentor profile
Reply by a lender
from Florida State University in St. Petersburg, FL, USA
Prime + 2.75% is ther typical floating rate for most SBA lenders. I have bumped down to P +2.25%/2.5% in some cases, pending on deal. If you are interested in touching base, reach out to redacted - would be interested to touch base.
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