SBA 7(a) Loans up to $500k Now Available

Business Insights

Are SBA Loan Interest Rates Determined by the Lender?

Luke LaHaie
5 minutes to read

Since capital for SBA 7(a) loans is issued via banks, credit unions, and lenders, can the lender choose the interest rate of SBA loans? 

The answer is yes, but only up to a maximum established by the SBA. SBA 7(a) loans are priced with a base rate, like WSJ Prime, plus a surcharge chosen by the issuing lender. The SBA sets a maximum for these surcharges, which are:  

Loan Amount 

Maximum Per SBA 

SBA 7(a) via NEWITY* 

$50,000 or less 

Base rate plus 6.5% 

WSJ Prime + 2.75% 

$50,001 to $250,000 

Base rate plus 6.0% 

WSJ Prime + 2.75% 

$250,001 to $350,000 

Base rate plus 4.5% 

WSJ Prime + 2.75% 

Greater than $350,000 

Base rate plus 3.0% 

WSJ Prime + 2.75% 


At NEWITY, we’re focused on helping your small business access affordable capital. Our simple application will determine your eligibility for an SBA loan in less than 10 minutes and will not impact your credit score. 

To get started, create a NEWITY account and submit our application today. 

To qualify for an SBA 7(a) small business loan, your business must be:

  1. U.S.-based and operated
  2. Owner supported / owner funded
  3. Eligible per the SBA’s requirements

Your loan amount will determined by the business’ average annual revenue, FICO score, and years in business