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Updated almost 5 years ago,

User Stats

473
Posts
230
Votes
Taylor Chiu
  • Real Estate Agent
  • Salt Lake City, UT
230
Votes |
473
Posts

Cheapest SBA 7a loan rates?

Taylor Chiu
  • Real Estate Agent
  • Salt Lake City, UT
Posted

Hey everyone, I'm under contract on an assisted living facility and looking to do an SBA 7a loan.

I've had a lender quote a rate of 4.25% fixed for 5 years on 25 yr amortization. I had been under the impression that the best I could get via SBA was prime + 2%ish. But this lender said the lower rate is possible due to it being a portfolio lender, who won't sell off the loan. 

Is it true that SBA loans can get down into the 4% range? Not complaining by any means, just want to double check before moving forward.

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