Cheapest SBA 7a loan rates?
Hey everyone, I'm under contract on an assisted living facility and looking to do an SBA 7a loan.
I've had a lender quote a rate of 4.25% fixed for 5 years on 25 yr amortization. I had been under the impression that the best I could get via SBA was prime + 2%ish. But this lender said the lower rate is possible due to it being a portfolio lender, who won't sell off the loan.
Is it true that SBA loans can get down into the 4% range? Not complaining by any means, just want to double check before moving forward.