My bank has raised my interest rate on my sba portion of my loan. I thought it c
Loan. Anyone know how this works?
Thanks for your question, and sorry for the delay in our response. Most loans either have fixed rates or variable rates. A fixed rate is a set interest rate for the life of the loan. This is what you might see in a typical 30-year home mortgage loan.
SBA loans, however, are generally variable rate loans. This means that the interest rate can vary throughout the life of the loan. You can check out our guide on SBA rates to learn more or to see what the current SBA rates are.