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Interest Rates

NADCO, the trade association for the nation's Certified Development Companies (CDCs), reports the following SBA 504 fixed interest rates for November 2020:

The rates below are those quoted by NADCO. The Debenture Rate is the base P&I rate of the loan. The Effective Rate includes three servicing fees built into the monthly payment over the full-term of the loan and the closing costs that are added to the loan. The Effective Rate is not an APR. Click here for an explanation of how the interest rates are calculated. Interest rates are typically set on the first Tuesday of a month, with loans funding on the second Wednesday of the month.

Please note that these rates do not include a slight increase in an SBA fee that became effective on October 1st that would increase the rates by about 20 basis points.  It should be properly reflected in the December rates.


20-Year Loan
 


Base Rate
Standard
Effective Rate
Refinancing
Effective Rate
 November 2020 1.05% 2.36% 2.37%
 October 2020 1.08% 2.40% 2.40%
 September 2020 1.05% 2.37% 2.37%
 August 2020 0.90% 2.21% 2.22%
 July 2020 1.03% 2.35% 2.35%*
 June 2020 1.21% 2.53% 2.53%
 May 2020 1.37% 2.69% 2.69%
 April 2020 1.64% 2.96% 2.96%
 March 2020 1.49% 2.81% 2.81%
 February 2020 2.07% 3.39% 3.39%
 January 2020 2.32% 3.64% 3.65%
 December 2019 2.26% 3.58% 3.58%
 November 2019 2.36% 3.74% 3.78%
 * Estimate as no 20-year refinancing bonds were sold
   
 
25-Year Loan
 
Base Rate

Standard
Effective Rate

Refinancing
Effective Rate

 November 2020 1.14% 2.40% 2.40%
 October 2020 1.17% 2.43% 2.43%
 September 2020 1.15% 2.41% 2,41%
 August 2020 1.01% 2.27% 2.27%
 July 2020 1.15% 2.41% 2.41%
 June 2020 1.34% 2.60% 2.60%
 May 2020 1.50% 2.76% 2.76%
 April 2020 1.77% 3.03% 3.03%
 March 2020 1.62% 2.88% 2.88%
 February 2020 2.20% 3.46% 3.47%
 January 2020 2.45% 3.71% 3.72%
 December 2019 2.38% 3.64% 3.73%
 November 2019 2.48% 3.80% 3.83%

 
 
10-Year Loan- sold every other month
   
Base Rate

Standard
Effective Rate

Refinancing
Effective Rate 
 November 2020 0.65% 2.23% 2.23%
 September 2020 0.70% 2.29% 2.29%
 July 2020 0.81% 2.40% 2.40%
 May 2020 1.06% 2.65% 2.66%*
 March 2020 1.25% 2.85% 2.85%*
 January 2020 2.18% 3.80% 3.81%*
 November 2019 2.24% 3.93% 3.94%*
 * Estimate as no 10-year refinancing bonds were sold  

Historical 10-year Rates

Historical 20-year Rates

Historical 25-year Rates