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SBA Loan Rates – Current Interest Rates and How They Work, best loan rates.#Best #loan #rates


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SBA Loan Rates Current Interest Rates and How They Work

There are three primary types of SBA loans: SBA 7A Loans, SBA Express Loans, and CDC/504 Loans. SBA 7A loans and SBA Express loans can be used for a wide variety of purposes, including growth capital and refinancing. CDC/504 loans, on the other hand, are specifically for the purchase of fixed assets like real estate and heavy machinery.

November 2017 Maximum interest rates on SBA 7A Loans range from 6.5 % to 9 %. Full Table

November 2017 Maximum interest rates for the CDC portion of CDC/504 Loans currently range from 4.08% to 4.43% including fees. Full Table

Before reading further, make sure you are qualified. Though there are exceptions, and startups are sometimes eligible, there are five general requirements for getting an SBA loan:

  • In business at least 2 years
  • Personal credit score is 680+ (check your score for free here)
  • Seeking at least $30,000
  • At least $50,000 in revenues for the past 12 months
  • Business is profitable

Sound like you? We recommend applying with SmartBiz. They are the best company we have found at providing quick turnarounds on SBA loan approvals, and you can find out how much you qualify for in 5 minutes.

Current SBA (7A) Loan Interest Rates and Explanation

The Small Business Administration (SBA) sets the maximum interest rates that banks can charge on 7A loans. The current maximum interest rate ranges from 6.5% 9%, depending on the size of the loan and the amount being borrowed.

The maximum interest rates on SBA 7A loans are also based on market interest rates. As market interest rates change, so will the maximum interest rates on these loans.

Maximum Interest Rates on SBA 7A Loans for November 2017

Detailed SBA 7(a) Interest Rate Explanation* Please note SBA 7A Express loans carry a higher interest rate for similar size amounts and terms than the standard 7A loans above. We recommend avoiding SBA Express loans as firms like SmartBiz can provide approval for the standard 7A with similar turnaround times.

As the table above shows, the maximum interest rate on SBA 7(a) loans is based on three factors:

  1. A base rate (one of the following publicly available interest rate measures): Prime Rate, LIBOR (one month) + 3.0%, or SBA Peg Rate
  2. The term of the loan: Less than 7 years or greater than 7 years. For example, 3 and 5 year loans would all fall into the same category of under 7 years.
  3. The size of the loan: Under $25,000, $25,000 to $49,999, and over $50,000. For example, loans of $30,000 and $45,000 will fall under the same category.

As the table shows, loans longer than 7 years have a maximum interest rate which is half a percent higher than similar size loans that are for terms that are less than 7 years.

Loans for more than $50,000 have 1% lower maximum interest rates than loans between $25,000 and $49,999 when taken for similar terms. Similarly, loans for $25,000 to $49,999 have 1% lower maximum interest rates than loans for less than $25,000.

Fixed vs. Variable SBA Interest Rates

7A loans can have a fixed or variable interest rate. With a fixed rate loan, the loan interest rate remains constant throughout the life of the loan. With a variable rate loan, the loan’s interest rate can change (often referred to as a reset) at regular intervals, such as quarterly or monthly.

With variable rate SBA 7A loans, the rate is reset based on one of three publicly available market interest rate numbers, plus a fixed percentage. The interest rate must always be at or below the maximum interest rate set by the SBA. For smaller size SBA loans (for example those under $500,000), banks tend to offer only variable rate loans, with interest rates at or close to the maximum allowable by the SBA.

The Base Rate And Interest Rate Resets

Banks can choose one of three market interest rate measures as their base rate. These are the prime rate, LIBOR + 3.0%, or the SBA peg rate. While there are small differences between these rates, they tend to track each other very closely. The Prime Rate is the one that s most commonly used.

Rates as of November 1, 2017:

  • Prime Rate: 4.25% (source: WSJ)
  • LIBOR (one month) + 3.0%: 4.24% (source: Bankrate)
  • SBA PEG Rate: 2.625% (source: National Association of Government Guaranteed Lenders)

These rates can go up or down based on market conditions. Currently, they are at decade low levels. Over the last 10 years, the Prime Rate has been as high as 8.3%.

With a variable rate SBA 7A Loan, as market interest rates rise so will the rate on the loan. Let’s take the example of a 10-year loan for $50,000 with interest rates rising by 2%.

The maximum interest rate on the loan currently would be 7.75%, with a monthly payment of $600 per month. With a 2% rise in interest rates upon the interest rate reset, the rate would be 9.75%, with a monthly payment of $654 (this would be the monthly increase for a newly issued loan. If the loan was older, the increase in monthly payment would be lower).

Interest Rates Are Not The Only Costs To Borrowing Money: APR/APY

When taking a loan, there is often an origination fee. This fee supposedly covers the costs of the bank or financial institution of making the loan, including marketing costs. However, the origination fee is not directly based on costs and is arbitrarily set by the financial institution. An origination fee of 4% is not unusual. The fee is typically taken “off the top”. For example, a borrower taking a $50,000 SBA loan with a 4% origination fee would only receive $48,000.

SBA 7(a) loans also have a guarantee fee. Initially, the lender pays this fee to the SBA, but it s almost always passed on to the borrower at closing. Currently, the SBA has waived fees for loans under $150,000. Above that, the fee typically ranges from 3 % to 3.5 % of the guaranteed portion of the loan. The exact percentage depends on the size of the loan and the length of the loan. For example, if a borrower takes a $250,000 10-year 7a loan, the SBA may guarantee 75 % of that, or $187,500. 3 percent of that amount, or $5,625, is the guarantee fee that will be charged to the borrower. For more info, click here.

The true cost of borrowing money (interest rate + fees) is often called the APY (Annual Percentage Yield) or APR (Annual Percentage Rate). On a ten year SBA loan, the effect of fees can create an APR or APY that is around 1% higher than the loan’s interest rate. The shorter the loan the bigger the impact that fees will have on the APY/APR.

What size SBA loan could you qualify for? Apply with SmartBiz and get an estimate in minutes.

November 2017 SBA Loan Rates On Real CDC / 504 Loans

The Small Business Administration (SBA) sets the maximum interest that banks can charge on CDC/504 loans. The current maximum interest rate ranges from 3.83% to 4.56%, depending on the size of the loan and the amount being borrowed.

The maximum interest rates on CDC/504 loans are also based on market interest rates. As market interest rates change, so will the maximum interest rates on these loans.

While a 7A SBA Loan can be used to purchase real estate, a Real CDC / 504 Loan will tend to provide borrowers with tremendous interest rate savings. A CDC / 504 loan is composed of two loans:

  1. A loan from a financial institution (bank) for typically 50% of the price of the property, equipment, and building upgrades.
  2. A loan from a Certified Development Company (a non-profit) for 40% of the price.

The remaining 10 % is a down payment from the borrower. The interest rates on the bank portion of the loan are not set by the SBA. However, the interest rates on these loans tend to be very low, currently in the mid-single digits. Because the bank loan is senior to the CDC loan and the loan is backed by real-estate, there is a low risk that the bank will not be able to get back the money it loans. The low-risk is reflected in the low-interest rates.

The maximum interest rate on the CDC portion of the loan is set by the SBA.

If you re in the market for commercial real estate and will occupy at least 51% of the space, you may be a good candidate for an SBA 504 loan. We recommend working with Liberty SBF for SBA 504 loans. If you have credit score is above 680 (check here for free), you ve been in business 4+ years, are profitable, and need more than $1,000,000, speak with Liberty SBF today.

If you need a commercial real estate loan of $500,000 $5,000,000, another option is a 7(a) loan with a 25-year repayment term. If you have a credit score above 680 (check here for free), you ve been in business 3+ years, are profitable, and will occupy at least 51% of the space, get prequalified in minutes with SmartBiz.


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Would you like to buy a home but worry that you’d never qualify for a mortgage? It’s time to stop guessing and evaluate your chances to land a loan based on everything from how much you make to your credit score. Believe it or not, the odds are in your favor.

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  • Current Interest Rates on Home Loans, Savings, Car loans – CD Rates, best loan.#Best #loan


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    November 10th 2017

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    Would you like to buy a home but worry that you’d never qualify for a mortgage? It’s time to stop guessing and evaluate your chances to land a loan based on everything from how much you make to your credit score. Believe it or not, the odds are in your favor.

    November 14th 2017

    The average cost of financing a new or used car or truck has stayed low over the past year, making auto loans a bargain by any historical measure. And buyers with reasonably good credit can always take advantage of the discount loans automakers are offering on many models.

    November 13th 2017

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    November 13th 2017

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    How Long Should My Car Loan Be, best car loan.#Best #car #loan


    How Long Should My Car Loan Be?

    Coming to Terms With Your Loan Term

    05/01/2013 (updated 03/06/2015) – By Ronald Montoya

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    Most people have a rough idea of what monthly payments will fit their budget when it comes to buying a car. That figure is usually what they target when they’re making a deal. However, this monthly-payment mentality is making car buyers lose track of the bigger picture: the total cost of the car and the length of time it will take to pay it off.

    Edmunds data tells the story: Since 2002, the average car loan term has slowly crept past five years, and is now inching past six-and-a-half years. In 2014, 62 percent of the auto loans were for terms over 60 months. And nearly 20 percent of the loans were for 73- to 84-month terms.

    “Consumers are battling two things,” says Melinda Zabritski, director of automotive credit at Experian. They are trying to get a good interest rate and a reasonable monthly payment. But sometimes the five-year loan has a monthly payment that is too high for them, and they end up financing for a longer term, even if it costs them more down the line, according to Zabritski.

    Is there any benefit to having a six- or seven-year car loan? Aside from having a lower monthly payment, no. In fact, there are many reasons why you shouldn’t choose such a long car loan term.

    The longer you finance a car, the more interest you will have to pay on it, both in terms of the rate itself and the finance charges over time. Edmunds recommends a 60-month loan, less if you can manage it. Here’s how the numbers look when you compare a 60-month loan to a 72-month loan.

    We chose a 2015 Toyota Camry XLE V6 with a few options as our example. Its True Market Value (TMV ) is close to the average price of a new car in 2014. Edmunds data shows that the average down payment for a 55-60-month loan in 2014 was $4,689. We entered those numbers in our loan calculators. After tax, title and the down payment, the total amount to be financed was $29,800.

    The average interest rate for a 55-60-month loan in 2014 was 2.41 percent, according to Edmunds data. The buyer would have a monthly payment of $528. The finance charges over the life of the 60-month loan would be $1,861.

    Contrast that with a 72-month loan we plugged into our calculator. The interest rate would be higher, according to Edmunds data: It was 5.9 percent for loans of 67-72 months in 2014. It’s common for longer loan terms to carry higher interest rates, Zabritski says.

    The data also shows that the longer loan a person takes out, the lower the down payment. People taking out loans in the 67-72-month range had a down payment of about $2,440 in 2014.

    In this 72-month loan scenario, the monthly payment, $531, wouldn’t be much different from the payment under a 60-month loan, and the buyer would have paid less out of pocket. It may seem like the way to go, until you look at the finance charges.

    The finance charges for the loan would be $6,182. That’s more than three times the interest for a 60-month loan. And not only will it take the person a year longer to pay off the loan, it will also take them longer to build equity in the car. Here’s why that’s a problem.

    A new car typically depreciates about 22 percent in its first year. At the beginning of a car loan, the buyer is typically “upside down,” or “under water,” meaning he owes more than the car is worth. The situation is made worse if the buyer hasn’t made a large enough down payment.

    Based on Edmunds data, most people aren’t making a big enough down payment to keep from being upside down longer than necessary.

    The time it takes you to get “above water” and build equity in the car will vary, based on the car you bought and how much of a down payment you’ve made. But one thing doesn’t vary: The longer your car loan, the longer it will take you to build equity.

    When you have no equity in the car, you can’t sell if it you need the money in an emergency: if your other bills get out of hand or you lose your job, for example. It also gives you fewer options if you get tired of the vehicle. A buyer will only pay you what the car is worth, not what you owe on it. You’re stuck with the balance of the loan.

    Similarly, if you get into an accident and the car is totaled, the insurance company will only pay you what the car is worth at the time of the accident. The remainder of what you owe will have to come out of your pocket.

    We love our cars when they are brand-new, but when romance fades, we’re anxious to trade them in for something else. The average trade-in age for a car in 2014 was six years. It’s not what you’d call an enduring relationship.

    If you have a 72-month loan and get the itch to buy a new car around the average six-year mark, you wouldn’t have enjoyed any time without payments, which diminishes the point of car buying in the first place. At that point, you’re better off leasing the car.

    If you took out an 84-month loan, you’d have to wait another year to buy. The other alternative would be to roll the balance of the loan into your next car purchase. And that’s a bad idea, adding up to an even longer loan commitment and higher monthly payments.

    Contrast these situations with buyers who’ve chosen a five-year loan. At the average trade-in mark of six years, they have already enjoyed almost a year without car payments and have the freedom to sell the car whenever they want.

    Resale value is another reason to steer clear of extra-long car loans. A 5-year-old car is more desirable and more valuable in the used-car marketplace than one that’s 7 years old.

    At five years, a car has lost about 53.5 percent of its new-car value in 2014, says Joe Spina, Edmunds director of remarketing. A 6-year-old car has depreciated by about 59.4 percent.

    In other words, the Camry in our example will be worth roughly $15,554 after five years. It drops to $13,580 at the six-year mark.

    A dealership will likely give you more money for the 5-year-old car. At that age, it’s a great candidate for the certified pre-owned process (CPO), which means the dealer will have a more valuable car to sell.

    On the other hand, a 6-year-old car is right on the edge of no longer being an acceptable CPO car. Some automakers, like General Motors, won’t permit a CPO car to be more than 5 years old. Further, if it has too many miles, it won’t qualify for a CPO program. That means you will get far less for the car as a trade-in.

    Alternatives to Long Loans

    Let’s say you want to buy a new car, but the monthly payments that are being quoted for the usual five-year loan are too high for you. That may be a sign that you’re shopping outside of your price range. Take a look at the Edmunds “What Can I Afford?” calculator. You start by entering your ideal monthly payment.

    After you fill out a few other details, the calculator will recommend a price range and some cars that fall in it. Stick to cars at the lower end of the range and you should be in good shape. Once you have an idea of what you can afford, make sure you get approved for your car loan before heading out to the dealer.

    You also could consider buying a used car. Interest rates are a bit higher for used cars, but since the cars cost less, there’s less to finance and the payments will be lower. If you’re not sure what cars to look at, check Edmunds’ Best Used Cars. It will point you in the right direction.

    While it is important to know what you can afford in terms of monthly car payments, that shouldn’t be your only measurement of a good car loan. Take a look at all the numbers in the sales contract so that you are fully aware of what you are paying for the car.


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    Whether you like it or not, your credit history takes center stage when it s time to plan your financial aid strategy. If you are a high school student, this may be the first time you ve had to consider the importance of having good credit.

    Understanding credit fundamentals helps you determine your best options for getting much-needed financial-aid, so let s examine the basics.

    Every credit related interaction you engage in has an outcome that affects your credit rating . If you borrow money and pay it back on schedule, your rating will be the better for it. If you have even one late payment, a negative entry serves to lower your rating.

    Your credit score is the summation of all the credit outcomes you have created over the course of your borrowing history. Credit bureaus are tasked with assigning numbers, or scores, to your overall performance. As you apply for certain student aid, your credit score is used by lenders to determine your worthiness for loans.

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    You have specific rights related to credit reporting, as outlined by The Fair Credit Reporting Act (FCRA). Three specific protections ensure that credit applications are handled without bias:

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    3. You have the right to challenge any information contained in your credit report that is not accurate or is incomplete.

    The Fair and Accurate Credit Transaction Act (FACTA) is a legal provision granting you the right to receive free copies of your credit reports from each of the three national credit bureaus, once a year. Get your free report, so you know exactly where you stand – requests are submitted annually to www.annualcreditreport.com. (Remember: you get ONE free report from each one, every year – use it wisely, from the perspective of timing).

    What s wrong with my credit?

    Experian, Equifax, and Transunion are the three primary credit bureaus that analyze your credit history. While responsible credit behavior is always going to impact your credit rating positively, it is not the only metric used to assign your credit score. Some of the criteria used to derive credit scores are inherently biased against college students.

    Credit bureaus want to see longevity and diversity in your credit history. If you are emerging from high school enroute to college, you might not be strong in either area. Three types of credit are examined:

    • Revolving Credit – YourMasterCard or Visa payment record illuminates your ability to manage a revolving account that carries balances across billing periods, and requires timely payments each month.
    • Installment Credit – Loans with fixed payments that are paid back over designated periods of time fall into this category. Mortgages provide the best installment credit references for lenders, because the loans are large and long-held. You probably didn t buy a house during high school, but your steady car loan payments are also installment credit successes.
    • Open Credit – An American Express card is a good example of an open credit line that must be paid in-full each month.

    So even if your credit outcomes have been positive, your limited history might not be sufficient to establish a high credit score. To access funds reserved for people with high credit scores, add a longer frame of reference to your credit application- take on a cosigner.

    Use cosigners to your advantage—to help build your credit. Once you ve made 48 consecutive on-time payments, it s common for your lender to release the cosigner fromthe loan. The student loan you needed a cosigner to secure, now acts as an installment credit success, to raiseyour own credit score.

    If you cannot find someone willing to lend their favorable credit rating to your college funding cause, focus instead on forms of financial aid that don t rely on your past credit performance.

    Federal Student Loans: Perfect Bad Credit Loans

    Federal student loans provideyour best borrowing options without strong credit.The first step toward securing financial aid is to complete the Free Application for Federal Student Aid (FAFSA). The standardized application computes your need for financial assistance during school. Student income, parental income and assets, and the size of your family are used to calculate your Expected Family Contribution (EFC). Your EFC is then used to create an individual Student Aid Report (SAR) that articulates your precise college financial aid needs.

    Best loans for bad credit

    Stafford Loans

    Submitting your FAFSA places you in contention for Stafford Loans under the William D. Ford Federal Direct Loan Program. Stafford Loans are categorized as subsidized, or unsubsidized, with different conditions for each.

    • Subsidized Stafford Loans are based on demonstrable financial need, as illustrated by your FAFSA results. As long as you are enrolled in school, your interest payments are subsidized by the Federal Government, so your debt doesn t grow while you are learning.
    • Unsubsidized Stafford Loans are not based on financial need, so interest does accrue while you attend school. You have the option of paying the interest as you go, or letting it ride until you finish school. As your interest is added to your debt, your total repayment obligation grows.

    Stafford Loans are available for undergraduate and graduate studies, with a maximum yearly award of $20,500 per graduate student.

    Parental financial information is included on FAFSA submissions for dependent students. If you apply as an independent student, your parents income is not factored into your Expected Family Contribution (EFC), and your annual Stafford Loan limits are higher.

    Perkins Loans

    Perkins loans are administered by institutions of higher education (IHE), but are federally funded nonetheless. Funds are reserved for students who demonstrate significant need relating to educational financing.Families with annual incomes below $25,000 are usually eligible for Perkins Loans, but your FAFSA should still be submitted, even if your family makes more.

    The maximum annual Perkins loan for undergraduate students is $5500, with a lifetime loan maximum of $27,000. Graduate students may borrow up to $8000 each year, with a $60,000 lifetime maximum. Perkins loans have fixed 5% interest rates and repayment starts 9 months following graduation.

    Private lenders require established good credit to consider you for a loan. If you don t have it, get a cosigner on board to bolster your credit worthiness. Without credit or a cosigner, you are best served by direct federal loans.


    HSBC Variable Home Loans and Interest Rates, HSBC Australia, best home loan rates australia.#Best #home #loan #rates #australia


    Compare Home Loans

    Best home loan rates australia

    Compare home loan interest rates features

    Compare our range of home loans. Designed with flexibility and exclusive service to best suit your needs whatever house or apartment you are buying.

    Home Value

    A simpler home loan with a competitive variable rate

    Standard Variable Rate

    Complete repayment flexibility

    Home Smart

    Combine your income, savings and loan into one easy to manage account

    Home Equity

    A loan that gives you the freedom to create wealth

    Owner Occupied and Investment

    Owner Occupied and Investment

    Owner Occupied and Investment

    Owner Occupied and Investment

    Due to the Australian regulatory environment, new home loan investment lending with HSBC is currently reserved for existing HSBC customers

    Interest Rate Type

    Owner Occupied Interest Rate

    (Principal and Interest)

    Owner Occupied Comparison Rate #

    (Principal and Interest)

    Owner Occupied Interest Rate

    Owner Occupied Comparison Rate #

    Owner Occupied Premier Discount* (Eligibility criteria apply)

    Investment Interest Rate

    (Principal and Interest)

    Investment Comparison Rate #

    (Principal and Interest)

    Investment Interest Rate

    Investment Comparison Rate #

    Investment Premier Discount* (Eligibility criteria apply)

    Monthly Account Keeping Fee

    Best home loan rates australia

    Best home loan rates australia

    Best home loan rates australia

    Best home loan rates australia

    Best home loan rates australia

    Best home loan rates australia

    Best home loan rates australia

    Best home loan rates australia

    Maximum Loan to Value Ratio (LVR)**

    Owner Occupied – 90%

    Owner Occupied – 90%

    Owner Occupied – 90%

    Owner Occupied – 80%

    Home Value

    Standard Variable Rate

    Home Smart

    Home Equity

    Important Information

    • Fees and charges apply.
    • Terms and Conditions apply.
    • Lending criteria apply.
    • ^ Terms, conditions and restrictions apply.

    Existing HSBC customers are defined as those with an existing retail bank lending product (mortgage), or in the absence of this, currently hold a deposit account with HSBC Australia for a minimum of 6 months (credit card only customers excluded).

  • * Our Variable rates are subject to change. Tiered discounts apply, loan amount of AUD 500,000 – AUD 749,000 receive 0.75% discount p.a., loan amount of AUD 750,000 – AUD 1,499,000 receive 0.80% discount p.a., loan amount of AUD 1,500,000 or greater receive 0.85% discount p.a. Visit hsbc.com.au for details of the Standard Variable Rate applicable at the time of application. HSBC Premier monthly fee of $35 applies. Eligibility criteria for HSBC Premier applies and is available from our branches, by calling 1300 301 168 or hsbcpremier.com.au. Eligibility criteria remains at HSBC’s absolute discretion. Terms, conditions and other restrictions apply.
  • ** For owner occupied and investment loans, HSBC will lend up to 90% to Australian residents with Lenders Mortgage Insurance (subject to approval) and up to 80% without LMI, providing security is acceptable to the bank. Overseas borrowers maximum LVR is 70%.
  • # Comparison rate calculations for Home Loans are based on designated amount of $150,000 and a term of 25 years. Our comparison rate schedules are available at our branches and at www.hsbc.com.au. WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.
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