The Small Business Administration (SBA) has reduced or eliminated the SBA guaranty fee and ongoing fee on some 7(a) loans, including Export Express loans approved before 9/30/2023.
We’ve broken down the fee changes below:
7(a) Upfront Fees effective October 1, 2022, through September 30, 2023
For SBA 7(a) loans, including SBA Express and SBA Export Express loans, with a maturity date greater than 12 months, the Upfront Fees are:
|Loan Size||Upfront SBA Fee|
|$500,000 or less||0.00%|
|$500,001 - $700,000||0.55% of the guaranteed portion|
|$700,001 - $1,000,000||1.05% of the guaranteed portion|
|$1,000,001 - $5,000,000||3.5% of the guaranteed portion up to $1,000,000, plus 3.75% of the guaranteed portion over $1,000,000|
As an SBA Preferred Lender, we have the tools needed to help your business reach the next level.