Get More From Your SBA Loan Data

The baseline interest rate that banks use as a starting point for lending. If you have a variable-rate SBA loan, your rate is usually Prime + a fixed spread (e.g., Prime + 2.75%). When the Fed raises rates, Prime goes up, and your monthly payment increases. As of early 2025, Prime sits at 7.5%.

The fixed percentage added on top of Prime Rate to calculate your variable rate. For example, if your loan docs say "Prime + 2.75%", the 2.75% is your spread. Your spread never changes — only Prime moves. So if Prime goes from 5.5% to 7.5%, your rate goes from 8.25% to 10.25%.

A fixed rate locks in your payment for the entire loan — no surprises. A variable rate adjusts with Prime Rate, so your payment can go up or down over time. Most SBA 7(a) acquisition loans are variable. The rate shown in our data is the initial rate at approval — if your loan is variable, your current rate may be different.

SBA 7(a) loans over $25,000 with terms of 15+ years have a prepayment penalty if you pay off or refinance within the first 3 years: 5% in Year 1, 3% in Year 2, 1% in Year 3. After Year 3, there's no penalty. This directly affects when refinancing makes financial sense.

The borrower defaulted and the lender wrote off the remaining balance. This doesn't mean the lender lost everything — the SBA guarantee (typically 50–85%) covers a large portion, and lenders may also recover money through collateral. When you see 'default rates' on this site, this is what's being counted.

The percentage of loans that were charged off, counting only loans where money was actually disbursed. Loans that were approved but cancelled before funding are excluded. This gives a more accurate picture than raw default rates, which is why we use it throughout the site.

Every SBA loan has a current status. "EXEMPT" (or Active) means the loan is in good standing. "PIF" means paid in full. "CHGOFF" means charged off (defaulted). "CANCLD" means cancelled before the money was sent. When you filter loans on this site, these are the statuses you can choose from.

The share of the loan the SBA covers if you default. For 7(a) loans, it ranges from 50% (loans over $500K) to 85% (loans under $150K). A higher guarantee means the lender takes on less risk, which can mean better terms. Your guarantee percentage is in your loan documents.