Today's SBA Loan Rates, July 2026
Current SBA 7(a), 504, Express, and MARC interest rates as of July 2026. Variable + fixed all-in ranges, Prime base rate, SBA peg rate, and maximum spread caps. Refreshed weekly from real lender quotes across 899+ SBA-approved lenders.
Sources: Federal Reserve H.15 (Prime), SBA Lender Match, SBA SOP 50 10 8 (Lender Operations)
What are current SBA loan rates as of July 2026?
As of July 2026: SBA 7(a) variable 9.50–11.75% (Prime + 2.25–2.75% spread), 7(a) fixed 9.75–12.25%, SBA 504 CDC portion 5.50–6.50% fixed, SBA Express 11.00–13.50%, MARC 9.50–11.75%. Base Prime rate 6.75%; SBA peg rate ~4.875%.
, PeerSense Capital Advisory · Updated July 2026
SBA Rates by Program, July 2026
As of
| Program | Current Rate | Term |
|---|---|---|
| SBA 7(a) Variable | 9.50–11.75% | Up to 25 yr |
| SBA 7(a) Fixed | 9.75–12.25% | Up to 25 yr |
| SBA 504 (CDC portion) | 5.50–6.50% | 20–25 yr fixed |
| SBA 504 (Bank first) | 6.50–8.00% | 10 yr fixed/balloon |
| SBA Express | 11.00–13.50% | Up to 10 yr |
| SBA MARC | 9.50–11.75% | Up to 25 yr |
- SBA 7(a) Variable9.50–11.75%
- Term
- Up to 25 yr
- Loan Size
- $50K – $5M
- Best For
- Acquisitions, working capital, goodwill
- SBA 7(a) Fixed9.75–12.25%
- Term
- Up to 25 yr
- Loan Size
- $50K – $5M
- Best For
- Rate-lock budget certainty
- SBA 504 (CDC portion)5.50–6.50%
- Term
- 20–25 yr fixed
- Loan Size
- $125K – $5.5M
- Best For
- Owner-occupied CRE + heavy equipment
- SBA 504 (Bank first)6.50–8.00%
- Term
- 10 yr fixed/balloon
- Loan Size
- 50% of project
- Best For
- Senior position to CDC bond
- SBA Express11.00–13.50%
- Term
- Up to 10 yr
- Loan Size
- $25K – $500K
- Best For
- Working capital, fast close (30-45 days)
- SBA MARC9.50–11.75%
- Term
- Up to 25 yr
- Loan Size
- $50K – $5M
- Best For
- Manufacturing in rural/underserved
Rates indicative based on July 2026 quotes across 899+ SBA-approved lenders. Borrower-specific pricing depends on credit (FICO 680+ typical), collateral, term, and lender. Base rate Prime = 6.75% (Federal Reserve H.15). SBA peg rate (alternative base) ≈ 4.875% (Q2 2026).
What Changed (July 2026)
- Prime held at 6.75% through mid-2026, no Fed move since the March pause. SBA 7(a) variable rates are unchanged. Forward curve implies one 25 bps cut probability by year-end if inflation continues cooling.
- SBA 504 CDC stable at 5.50–6.50% through mid-2026 as the underlying SBA-guaranteed bond market continues to track the broader Treasury curve.
- FY2025 SBA 7(a) volume hit $46.5B across 70,241 loans, up 12% YoY. Average loan size $479K. Manufacturing carries among the lowest SBA default rates and strong lender appetite, supporting MARC pricing competitiveness.
SBA 7(a) Maximum Spread Caps (July 2026)
SBA caps the maximum spread above the base rate. Lenders cannot charge more than the cap. Caps in effect July 2026:
- Loans $50,000 or less: Prime + 6.50% (max all-in 13.25%)
- Loans $25,001–$50,000: Prime + 5.50% (max 12.25%)
- Loans over $50,000, < 7-yr term: Prime + 2.25% (max 9.00%)
- Loans over $50,000, 7+ yr term: Prime + 2.75% (max 9.50%)
Most institutional acquisitions ($500K-$5M) carry 10-yr amortization on goodwill / 25-yr on real estate. Maximum rate = Prime + 2.75% = 9.50%. Strong borrowers (760+ FICO, established cash flow) close at 9.00%; weaker deals at the cap.
SBA 504 vs 7(a) Rate Comparison
SBA 504 CDC portion (5.50–6.50% fixed) is materially cheaper than 7(a) (9.50%+ variable) because it's funded by 100%-guaranteed SBA bond issuances. But 504 only covers owner-occupied real estate + heavy equipment with 10% borrower equity. 7(a) is the workhorse for acquisitions, working capital, and goodwill, broader use case at higher rate.
Where to Go Next
For full SBA program details, eligibility, document checklists, and worked examples see SBA Loans. For deep-dive comparisons of 7(a) vs 504 by use case see SBA Loans Complete Guide and SBA 7(a) vs 504 for Hotels. For the dedicated breakdown of current SBA 7(a) loan interest rates against SBA 504, CMBS, and bridge pricing side by side, see our SBA 7(a) rate tracker. Run scenario numbers in the SBA Loan Calculator. See peer rate hubs at Commercial Lending Rates Hub.
Current SBA Rates Frequently Asked Questions
What is the current SBA 7(a) loan rate (July 2026)?+
As of July 2026, SBA 7(a) variable rates are 9.50–11.75% all-in. Base rate is Prime (currently 6.75%). SBA caps the maximum spread at +2.25% on loans over $50K with under-7-yr term and +2.75% on 7+-yr terms, making the typical max all-in 9.50%. Fixed-rate 7(a) is 9.75–12.25%.
What is the SBA 504 rate today?+
SBA 504 CDC portion is 5.50–6.50% fixed for 20–25 yr terms as of July 2026. The 504 has three pieces: 50% bank first mortgage (priced at 6.50–8.00%), 40% CDC bond-funded second (5.50–6.50% fixed), 10% borrower equity. Blended all-in rate typically 6.00–7.25%.
What is the Prime rate for SBA loans in July 2026?+
Prime rate is 6.75% as of July 2026 (Federal Reserve H.15). Most SBA 7(a) variable loans are indexed to Prime, adjusting quarterly. The Wall Street Journal Prime rate is what SBA lenders typically use as the base.
What is the SBA peg rate for July 2026?+
SBA optional peg rate for Q2 2026 is approximately 4.875% (published quarterly by SBA). Lenders may use the peg rate as the base instead of Prime for fixed-rate 7(a) loans, but most default to Prime. The peg is a weighted average of U.S. Treasury yields.
Are SBA rates fixed or variable?+
Most SBA 7(a) loans are variable, indexed to Prime. SBA 504 (CDC portion) is always fixed for 20-25 years. Fixed-rate 7(a) is available at 50-100 bps premium over variable. SBA Express loans are usually variable. Decision framework: variable wins if you expect Fed cuts; fixed wins if you expect rates to rise or want budget certainty.
Have SBA rates gone down recently?+
Prime has held at 6.75% since the Fed's March 2026 pause and continued holding through mid-2026, so SBA 7(a) variable-rate ranges are unchanged. SBA 504 CDC fixed-rate compressed ~5 bps in April as the underlying SBA bond market saw spread compression. Forward curve implies 25-50 bps Prime cut probability through year-end.
What's the SBA Express rate today?+
SBA Express variable rates are 11.00–13.50% as of July 2026. Express allows wider spreads than 7(a) (up to Prime + 6.50% on smaller loans) because of expedited processing (36-hour SBA decision). Loan max is $500K, term up to 10 years.
What is the SBA MARC loan rate?+
SBA MARC (Manufacturing And Rural Communities) loan rates follow standard 7(a) pricing: 9.50–11.75% variable as of July 2026. MARC is a 7(a) variant with priority processing for manufacturers in rural / underserved markets. Spread caps are identical to 7(a).
How are SBA rates set?+
SBA 7(a) and Express rates = base rate (Prime, peg, or LIBOR legacy) + lender spread. SBA caps the maximum spread by loan size and term. SBA 504 CDC portion is funded by SBA-guaranteed bond issuances, so the rate tracks the secondary bond market plus servicing fees. SBA does not directly set rates, the cap structure does.
Where do PeerSense's SBA rate quotes come from?+
PeerSense pulls SBA rate quotes weekly from our network of 899+ active SBA-approved lenders, including PLP lenders, regional banks, and specialty SBA-only lenders. Ranges reflect top-quartile pricing for highly bankable borrowers, median for typical deals, and bottom-quartile for marginal credits. Specific lender quotes are matched to deal profile during PeerSense engagement.
See Related Rates by Program
PeerSense covers the full commercial capital stack. Indicative levels that lenders in our network have been pricing across these programs, as of July 21, 2026.
SBA 7(a) & 504
5.50–11.75%Up to $5M acquisition / real estate / equipment, 10% down
CMBS Conduit
5.60–7.10%10-yr non-recourse fixed, $5M–$500M+, fully assumable
Bridge Loans
9.00–14.00%12–36 mo transitional, SOFR + 470-970 bps, 65-75% LTV
DSCR Investor
5.95–8.50%30-yr fixed rental, qualifies on property cash flow
Equipment Financing
5.50–12.00%Loan, lease, SBA 504, vendor, captive. Section 179 eligible
Hotel Financing
5.85–11.75%CMBS + SBA 504 + bridge + PIP across all flags
Private Credit
7.80–18.00%Non-bank flexibility, unitranche, recap, transitional
Invoice Factoring + ABL
0.5–3.5% / 30dB2B receivables, trucking / staffing / construction / govt
No-Doc CRE
7.50–11.50%Limited-doc commercial, asset-based underwriting
Indicative only, as of July 21, 2026. Not a quote, commitment or offer of credit. Final pricing, leverage and terms are determined by the lender at underwriting, after full transaction materials are reviewed. PeerSense does not lend and does not set pricing. What these terms mean.
Editorial integrity: Rates compiled by PeerSense Capital Advisory. PeerSense is a capital advisory firm, not a lender. Content is for educational purposes only. Rates and terms reflect approximate July 2026 market conditions. SBA programs and caps are subject to SBA SOP 50 10 8 and may change. Consult an SBA-approved lender for specific quotes.