SBA loan rates today
Short answer
WSJ Prime is 7.00%. SBA caps a variable rate on 7(a) and SBA Express loans at Prime plus 3.0 to 6.5 percentage points, depending on loan size. Today that means 13.50% at $50,000 or less and 10.00% over $350,000 (13 CFR 120.214(d)). Prime as of Nov 10, 2026.
- WSJ Prime today
- 7.00%
- SBA maximum, $50,000 or less
- 13.50%
- SBA maximum, over $350,000
- 10.00%
SBA maximum rate by loan size
SBA sets the highest rate a lender may charge on a variable-rate 7(a) or SBA Express loan. The ceiling is Prime plus a spread that gets smaller as the loan gets larger. SBA Express stops at $500,000.
| Loan size | Over Prime | 7(a) | Express |
|---|---|---|---|
| $50,000 or less | 6.5 | 13.50% | 13.50% |
| $50,001 to $250,000 | 6.0 | 13.00% | 13.00% |
| $250,001 to $350,000 | 4.5 | 11.50% | 11.50% |
| $350,001 to $500,000 | 3.0 | 10.00% | 10.00% |
| $500,001 to $5,000,000 | 3.0 | 10.00% | n/a |
Over Prime is the percentage points a lender may add to Prime. Rates use Prime as of Nov 10, 2026 and refresh from our live feed. A maximum is a ceiling, not an offer: your lender can charge less. n/a means SBA Express does not reach that size.
Which Prime counts
SBA sets a new loan's maximum from Prime on the first business day of the month in which the loan is approved (SOP 50 10 8.1, Appendix 18, Para. A.1.c). The table uses today's Prime. If Prime moved after the 1st, a loan approved this month is capped at the earlier figure.
The next Federal Reserve decision is . See every meeting ahead.
How the cap works
- How often a variable 7(a) rate changes: no more often than monthly (13 CFR 120.214(a)). Your note states the schedule, and many lenders adjust once a calendar quarter (SOP 50 10 8.1, Appendix 18, Frequency of Interest Rate Adjustment).
- Maximum fixed rate: the Prime rate on the first business day of the month plus an allowable spread that SBA publishes (SOP 50 10 8.1, Appendix 18, Para. A.1).
- Base rates: Lenders may use the Prime rate or the SBA Optional Peg Rate. SBA also lets them use SOFR, the 5-year Treasury Note rate or the 10-year Treasury Note rate. With one of those, the all-in rate is still capped at Prime plus the spread for the loan size (SOP 50 10 8.1, Appendix 18, Para. A.2).
- SBA Express base rate: the lender may use the same base rate it uses on similar non-SBA loans, but the rate may not exceed the SBA maximum (SOP 50 10 8.1, Appendix 18, Para. B.3). An SBA Express lender may also use its own change intervals (same paragraph).
Where lenders priced loans under the cap
The ceiling is the most a lender may charge. SBA's loan file shows what lenders did charge.
In every size band, the medianThe middle figure. Half the loans were larger and half were smaller. variable-rate loan was priced under the ceiling. On loans of $50,000 or less the median spread was 3.75 percentage points, 2.75 under the 6.5-point ceiling. On loans of $350,001 to $500,000 it was 2.50, only 0.50 under the 3.0-point ceiling.
| Loan size | Ceiling | Median | Loans |
|---|---|---|---|
| $50,000 or less | 6.5 | 3.75 | 41,521 |
| $50,001 to $150,000 | 6.0 | 3.00 | 39,653 |
| $150,001 to $350,000 | 4.5 to 6.0 | 2.75 | 30,329 |
| $350,001 to $500,000 | 3.0 | 2.50 | 14,846 |
| $500,001 to $1,000,000 | 3.0 | 2.25 | 15,897 |
| $1,000,001 to $2,000,000 | 3.0 | 2.00 | 10,799 |
| Over $2,000,000 | 3.0 | 1.53 | 9,310 |
Loans counts every SBA loan approved in the size band. The median covers the variable-rate loans among them: spread is the starting rate minus Prime on the approval date. It stays true when Prime moves, which a starting rate does not. Your lender sets your spread.
How to read this
Counts come from SBA's 7(a) loan-level data release, as of June 30, 2026. The file lists loans SBA approved. It does not list declined applications, so it cannot show approval odds. We do not publish any figure built on fewer than 5 loans. Rates in the file are rates at approval. They moved with Prime, so they are not today's rates. The median is the middle spread: half the loans were priced higher and half lower. How we build these pages.
Prime rate history
Prime is one of the base rates banks use to price short-term business loans. Here it is the Federal Reserve's bank prime loan rate (FRED series DPRIME), which this site labels WSJ Prime.
Step chart of the bank prime loan rate from January 3, 2000 to October 27, 2026. It peaked at 9.50% in May 2000 and fell to 3.25% in December 2008, where it stayed until December 17, 2015. It was at 3.25% again from March 16, 2020 until March 17, 2022. The highest point since December 2008 was 8.50% in July 2023. The table below lists every change since January 2022.
Source: Federal Reserve H.15 bank prime loan rate (FRED series DPRIME). Each step is a change. The download links at the foot of this page list every change since 2000.
| Date | New Prime | Change |
|---|---|---|
| September 17, 2026 | 7.00% | +0.25 |
| December 11, 2025 | 6.75% | -0.25 |
| October 30, 2025 | 7.00% | -0.25 |
| September 17, 2025 | 7.25% | -0.25 |
| December 19, 2024 | 7.50% | -0.25 |
| November 8, 2024 | 7.75% | -0.25 |
| September 19, 2024 | 8.00% | -0.50 |
| July 27, 2023 | 8.50% | +0.25 |
| May 4, 2023 | 8.25% | +0.25 |
| March 23, 2023 | 8.00% | +0.25 |
| February 2, 2023 | 7.75% | +0.25 |
| December 15, 2022 | 7.50% | +0.50 |
| November 3, 2022 | 7.00% | +0.75 |
| September 22, 2022 | 6.25% | +0.75 |
| July 28, 2022 | 5.50% | +0.75 |
| June 16, 2022 | 4.75% | +0.75 |
| May 5, 2022 | 4.00% | +0.50 |
| March 17, 2022 | 3.50% | +0.25 |
Dates are when the Federal Reserve series changed. An individual bank can post a change a day earlier or later.
Federal Reserve meetings ahead
The Federal Open Market Committee (FOMC) sets the Fed's target interest rate, and banks usually move Prime after it changes. The committee holds eight regularly scheduled meetings a year and other meetings as needed.
| Meeting | Decision day | Projections |
|---|---|---|
| December 8-9, 2026 | Yes | |
| January 26-27, 2027 | No | |
| March 16-17, 2027 | Yes | |
| April 27-28, 2027 | No | |
| June 8-9, 2027 | Yes | |
| July 27-28, 2027 | No | |
| September 14-15, 2027 | Yes | |
| October 26-27, 2027 | No | |
| December 7-8, 2027 | Yes |
Projections says whether the meeting comes with a new Summary of Economic Projections. Dates are as the Federal Reserve published them on November 9, 2026; its page was last updated October 28, 2026. The Fed says each date is tentative until the committee confirms it at the meeting before it.
How fast a Fed decision reaches your loan depends on the adjustment schedule in your note. On a 7(a) loan a variable rate changes no more often than monthly (13 CFR 120.214(a)). The lender uses the base rate in effect on the first business day of that period (SOP 50 10 8.1, Appendix 18, Frequency of Interest Rate Adjustment). An SBA Express lender may use its own change intervals (SOP 50 10 8.1, Appendix 18, Para. B.3).
Common questions
What is the maximum interest rate on an SBA Express loan?
SBA limits a variable rate on an SBA Express loan to Prime plus 3.0 to 6.5 percentage points, depending on loan size (13 CFR 120.214(d); SOP 50 10 8.1, Appendix 18, Para. B.3). This page turns that into today's rate for each loan size. Your lender can charge less.
Is the 7(a) rate cap the same as the SBA Express cap?
Yes, at every size both programs cover. An SBA Express rate may not exceed the 7(a) maximum (SOP 50 10 8.1, Appendix 18, Para. B.3). SBA Express stops at $500,000, so the cap on larger loans applies to 7(a) only.
Can an SBA loan have a fixed rate?
Yes. A loan may carry a fixed or a variable rate. The maximum fixed rate is the Prime rate on the first business day of the month plus an allowable spread that SBA publishes (SOP 50 10 8.1, Appendix 18, Para. A.1). Ask your lender which fixed rate it offers.
How often can my SBA variable rate change?
On a 7(a) loan a variable rate may change no more often than monthly (13 CFR 120.214(a)). Your note states the schedule, and many lenders adjust once a calendar quarter (SOP 50 10 8.1, Appendix 18, Frequency of Interest Rate Adjustment). An SBA Express lender may use its own change intervals (SOP 50 10 8.1, Appendix 18, Para. B.3).
Which Prime rate sets the maximum on my loan?
SBA uses Prime on the first business day of the month in which the loan is approved (SOP 50 10 8.1, Appendix 18, Para. A.1.c). The maximum can differ from today's table if Prime moved after the 1st.
Can a lender use an index other than Prime?
Yes. A lender may use SOFR, the 5-year Treasury Note rate or the 10-year Treasury Note rate. With one of those, the all-in rate is still capped at Prime plus the spread for the loan size (SOP 50 10 8.1, Appendix 18, Para. A.2; SBA Procedural Notice 5000-875051).
When does Prime change?
Banks set Prime, and they usually move it after the Federal Reserve changes its target rate. The FOMC holds eight regularly scheduled meetings a year. This page lists the next decision days.
Cite this page
SBA loan rates today. SBA Express Loans, Janover Capital LLC (checked November 9, 2026). https://www.sbaexpress.loans/rates/. Sources: Federal Reserve H.15 and FOMC calendar; 13 CFR 120.214; SOP 50 10 8.1, Appendix 18; SBA 7(a) loan file.
Put today's maximum rates on your site
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<p><a href="https://www.sbaexpress.loans/rates/">SBA loan rates today</a> from SBA Express Loans</p>Where a browser supports WebMCP, this page and the embed register a tool named get_sba_max_rates_today. Agents that connect over MCP can call get_max_rates_today on the SBA Express API.
Sources
- 13 CFR 120.214, variable interest rates
- SOP 50 10 8.1, Appendix 18: 7(a) Interest Rate Requirements (effective October 1, 2026)
- SBA Procedural Notice 5000-875051, 7(a) alternative base rate options
- Federal Reserve H.15 Selected Interest Rates, bank prime loan
- Federal Reserve Bank of St. Louis, FRED series DPRIME (bank prime loan rate)
- Federal Reserve Board, FOMC meeting calendars, read November 9, 2026
- SBA 7(a) and 504 FOIA loan-level data, as of June 30, 2026
Ask lending partners about your rate
Tell us your state, loan amount and purpose, and we route your inquiry to lending partners. Your lender sets your rate, up to the SBA maximum.
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