Starting on October 1st, 2024, the SBA has announced updated SBA 7a fees for SBA Fiscal Year 2024 (Effective 10/1/2024- 9/30/2025)
Okay here’s the great news, for any SBA 7a loan under $1,000,000 will keep no SBA Guaranty Fee (also known as the Upfront Fee) for 7(a) loans.
Think of this depending on project size, roughly $5-30k less in fees added to your SBA 7a loan.
Here’s the updated SBA Fee Schedule:
For loans of $1,000,000 or less: 0.00%.
For loans of $1,000,001 to $5,000,000: 3.5% of the guaranteed portion of the loan up to and including $1,000,000, plus 3.75% of the guaranteed portion of the loan over $1,000,000
If you would like to learn more about the SBA fees, we have attached the official letter from the SBA.
If you are working on a new project though we are happy to help with any questions about loan fees, etc at SBAWallet and help connect you with a lender!
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