Rates

SBA 504 Current and Historic Rates**

Year Month 20 Year Loan 10 Year Loan 25 Year Loan 20 Year Refinance
2023 September 6.87% 7.07% 6.81% 6.89%
August 6.61% * 6.55% 6.63%
July 6.64% 7.08% 6.58% 6.66%
June 6.39% * 6.33% 6.40%
May 6.08% 6.05% 6.03% 6.10%
April 5.96% * 5.88% 5.98%
March 6.34% 6.78% 6.33% 6.35%
February 5.99% * 6.02% 5.99%
January 6.29% 6.45% 6.31% 6.29%
2022 December 6.04% * 6.11% 6.05%
November 6.23% 6.27% 6.31% 6.24%
October 6.13% * 6.22% 6.15%
September 5.34% 5.33% 5.44% 5.36%
August 4.89% * 4.98% 4.91%
July 5.05% 4.97% 5.11% 5.07%
June 5.13% * 5.19% 5.15%
May 5.06% 4.93% 5.12% 5.08%
April 4.62% * 4.68% 4.63%
March 3.77% 3.82% 3.93% 3.78%
February 3.45% * 3.60% 3.47%
January 3.07% 3.09% 3.22% 3.09%
2021 December 2.88% * 3.03% 2.89%
November 3.03% 3.11% 3.17% 3.08%
October 3.02% * 3.16% 3.06%
September 2.86% 2.69% 2.98% 2.90%
August 2.75% * 2.87% 2.79%
July 2.70% 2.60% 2.82% 2.74%
June 2.77% * 2.89% 2.81%
May 2.85% 2.62% 2.94% 2.89%
April 3.02% * 3.08% 3.06%
March 3.00% 2.70% 3.05% 3.05%
February 2.72% * 2.76% 2.76%
January 2.66% 2.45% 2.70% 2.70%
2020 December 2.59% * 2.63% 2.63%
November 2.36% 2.23% 2.40% 2.37%
October 2.40% * 2.43% 2.40%
September 2.37% 2.29% 2.41% 2.37%
August 2.21% * 2.27% 2.21%
July 2.35% 2.40% 2.41% 2.41%
June 2.53% * 2.60% 2.53%
May 2.69% 2.65% 2.76% 2.69%
April 2.96% * 3.03% 2.96%
March 2.81% 2.85% 2.88% 2.81%
February 3.39% * 3.46% 3.39%
January 3.64% 3.80% 3.71% 3.65%
2019 December 3.58% * 3.64% 3.58%
November 3.74% 3.93% 3.80% 3.78%
October 3.46% * 3.54% 3.50%
September 3.36% 3.56% 3.46% 3.39%
August 3.53% * 3.63% 3.57%
July 3.91% 3.94% 4.01% 3.95%
June 3.98% * 4.09% 4.02%
May 4.27% 4.37% 4.39% 4.30%
April 4.37% * 4.53% 4.40%
March 4.59% 4.63% 4.74% 4.62%
February 4.65% * 4.77% 4.68%
January 4.76% 5.06% 4.88% 4.79%
2018 December 4.93% * 4.99% 5.31%
November 5.60% 5.60% 5.64% 5.64%
October 5.49% * 5.53% 5.54%
September 5.25% 5.25% 5.29% 5.30%
August 5.30% * 5.35% 5.35%
July 5.26% 5.30% 5.32% 5.31%
June 5.32% * * 5.37%
May 5.22% 5.30% * 5.27%
April 5.03% * * 5.08%
March 4.92% 5.11% * 4.97%
February 4.94% * * 4.99%
January 4.64% 4.66% * 4.69%
2017 December 4.50% * * 4.61%
November 4.51% 4.47% * 4.62%
October 4.64% * * 4.68%
September 4.38% 4.15% * 4.42%
August 4.54% * * 4.58%
July 4.77% 4.50% * 4.81%
June 4.60% * * 4.64%
May 4.67% 4.51% * 4.71%
April 4.63% * * 4.67%
March 4.83% 4.82% * 4.87%
February 4.61% * * 4.65%
January 4.59% 4.60% * 4.63%
2016 December 4.60% * * 4.64%
November 4.36% 4.67% * 4.68%
October 4.26% * * 4.32%
September 4.08% 4.29% * 4.14%
August 4.09% * * *
July 4.09% 4.12% * *
June 4.23% * * *
May 4.32% 4.19% * *
April 4.31% * * *
March 4.55% 4.33% * *
February 4.32% * * *
January 4.83% 4.29% * *
2015 December 4.87% * * *
November 4.78% 4.18% * *
October 4.80% * * *
September 4.90% 4.24% * *
August 4.91% * * *
July 4.96% 4.33% * *
June 5.06% * * *
May 4.85% 4.37% * *
April 4.59% * * *
March 4.80% 4.40% * *
February 4.55% * * *
January 4.60% 4.42% * *
2014 December 4.78% * * *
November 4.88% 4.56% * *
October 4.82% * * *
September 5.00% 4.70% * *
August 4.96% * * *
July 4.95% 4.51% * *
June 5.07% * * *
May 5.08% 4.51% * *
April 5.19% * * *
March 5.29% 4.48% * *
February 5.31% * * *
January 5.54% 4.67% * *
2013 December 5.46% * * *
November 5.46% 4.40% * *
October 5.45% * * *
September 5.70% 4.86% * *
August 5.24% * * *
July 5.23% 4.42% * *
June 4.53% * * *
May 4.15% 3.61% * *
April 4.16% * * *
March 4.30% 3.71% * *
February 4.29% * * *
January 4.21% 3.63% * *
2012 December 4.01% * * *
November 4.17% 3.52% * *
October 4.26% * * *
September 4.28% 3.49% * *
August 4.45% * * *
July 4.46% 3.70% * *
June 4.50% * * *
May 4.46% 3.76% * *
April 4.75% * * *
March 4.59% 3.83% * *
February 4.71% * * *

*Note: 10 year bonds are sold every other month
**The table represents the approximate effective interest rate by averaging the note rate plus all fees, amortized over the life of the loan.