Fit Small Business: Get Your Business Into Shape! › Forums › Ask a Question › Does an SBA loan really come with a $10,000 fee +2.5% + interest on the laon? › Reply To: Does an SBA loan really come with a $10,000 fee +2.5% + interest on the laon?
Dock David Treece
Thanks for your question. The situation you’ve described does not sound atypical for SBA loans. These loans can be very advantageous for small businesses but they usually have a very in-depth underwriting process. It’s also normal for lenders to charge some fees up front, though some also wrap some fees into the total loan so you can pay them off over time.
If you’d like to read more on SBA loans, be sure to check out our article on SBA Loan Rates (here: https://fitsmallbusiness.com/sba-loan-rates/) and our SBA Loan Calculator article here: https://fitsmallbusiness.com/sba-loan-calculator/. Both of these articles provide lots of information on SBA Loans, rates, costs, and the underwriting process.
Hope this helps,