Interest rates range from 5.75% to 8.25%, depending upon such factors as your credit score and the term of the loan. Both fixed and variable rate loans may be available. In addition to interest, SBA guarantee fees, packaging fees and closing costs will apply. In many cases, the lender will include these fees in the loan, but be aware that this is additional debt you are incurring.

The maximum loan amount under this program is $5 million. While there is no set minimum most lenders will not consider loans of less than $30,000. The average loan amount is between $350,000 and $400,000.

SBA 7(a) loans for the purchase of real estate will usually have a 25 year term. Loans for other purposes will, in most cases, have a maximum term of 10 years.