Does an SBA loan really come with a $10,000 fee +2.5% + interest on the laon?
This seems high to me. I am trying to do my research, but not finding numbers like these. Can anyone tell me if this is in the realm of reality for a $250,000 loan?
I believe I can point you in the right direction. As you may know, the fees paid on SBA loans depend upon the loan amount, the repayment term, the guaranteed amount, guarantee fee rate, and other factors. For example, a $250,000 loan with a 10-year term would likely have a 75% ($187,000) guaranteed amount. The fee rate would likely be 3.00%, which would produce a guarantee fee of $5,625, or 187k x .03. For more details, please see our article on SBA Loan Rates.
I hope that helps!
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