Current Borrowers

SBA 504 Rate History

SBA 504 rates include fees to CDC, SBA and central serving agent based on debenture pricing published by NADCO. The rates listed are effective May 7, 2026 and change monthly with each funding cycle. Learn more about SBA 504 loans.

2026

SBA 504 Rates	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
25 Year	5.852%	5.802%	5.722%	5.942%	5.952%
25 Year Refi	5.855%	5.805%	5.725%	5.945%	5.955%
25 Year for Manufacturing	5.610%	5.560%	5.480%	5.700%	5.710%
20 Year	5.913%	5.863%	5.783%	5.983%	6.013%
20 Year Refi	5.916%	5.866%	5.786%	5.986%	6.016%
20 Year for Manufacturing	5.662%	5.612%	5.531%	5.732%	5.762%
10 Year	5.672%	5.672%	5.611%	5.611%	5.876%
10 Year for Manufacturing	5.372%	5.372%	5.310%	5.310%	5.576%

2025

SBA 504 Rates	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
25 Year	6.512%	6.283%	6.243%	6.432%	6.393%	6.373%	6.373%	6.233%	6.003%	5.922%	5.862%	5.822%
25 Year Refi	6.541%	6.312%	6.272%	6.461%	6.421%	6.401%	6.401%	6.262%	6.032%	5.925%	5.865%	5.825%
25 Year for Manufacturing	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	5.680%	5.620%	5.580%
20 Year	6.581%	6.350%	6.310%	6.450%	6.410%	6.390%	6.390%	6.250%	6.020%	5.983%	5.923%	5.883%
20 Year Refi	6.611%	6.380%	6.340%	6.480%	6.440%	6.420%	6.420%	6.280%	6.050%	5.986%	5.926%	5.886%
20 Year for Manufacturing	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	5.732%	5.672%	5.632%
10 Year	6.642%	6.642%	6.337%	6.337%	6.204%	6.204%	6.174%	6.174%	5.766%	5.766%	5.652%	5.652%
10 Year for Manufacturing	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	5.290%	5.351%	5.351%

2024

SBA 504 Rates	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
25 Year	6.361%	6.381%	6.281%	6.690%	6.550%	6.351%	6.201%	6.041%	5.762%	6.033%	6.283%	6.093%
25 Year Refi	6.390%	6.410%	6.310%	6.719%	6.579%	6.382%	6.230%	6.070%	5.791%	6.062%	6.312%	6.122%
20 Year	6.420%	6.490%	6.360%	6.760%	6.650%	6.440%	6.270%	6.110%	5.829%	6.100%	6.350%	6.160%
20 Year Refi	6.450%	6.520%	6.390%	6.790%	6.680%	6.470%	6.300%	6.140%	5.859%	6.130%	6.380%	6.190%
10 Year	6.526%	6.526%	6.587%	6.587%	6.892%	6.892%	6.476%	6.476%	5.865%	5.865%	6.459%	6.459%

2023

SBA 504 Rates	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
25 Year	6.310%	6.010%	6.329%	5.880%	6.020%	6.329%	6.579%	6.549%	6.808%	7.129%	7.019%	6.590%
25 Year Refi	6.327%	6.028%	6.347%	5.898%	6.038%	6.347%	6.597%	6.567%	6.826%	7.158%	7.048%	6.619%
20 Year	6.282%	5.982%	6.332%	5.952%	6.072%	6.381%	6.632%	6.602%	6.862%	7.180%	7.020%	6.610%
20 Year Refi	6.300%	6.000%	6.350%	5.970%	6.090%	6.400%	6.650%	6.620%	6.880%	7.210%	7.050%	6.640%
10 Year	6.433%	6.433%	6.768%	6.768%	6.036%	6.036%	7.063%	7.063%	7.052%	7.052%	7.207%	7.207%

2022

SBA 504 Rates	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
25 Year	3.213%	3.594%	3.925%	4.676%	5.117%	5.187%	5.107%	4.977%	5.437%	6.439%	6.529%	6.110%
25 Year Refi	3.227%	3.608%	3.939%	4.690%	5.130%	5.20%	5.120%	4.990%	5.450%	6.457%	6.547%	6.128%
20 Year	3.067%	3.449%	3.761%	4.615%	5.057%	5.127%	5.047%	4.886%	5.338%	6.362%	6.452%	6.032%
20 Year Refi	3.081%	3.463%	3.775%	4.629%	5.071%	5.141%	5.061%	4.900%	5.352%	6.380%	6.470%	6.050%
10 Year	3.070%	3.070%	3.807%	3.807%	4.922%	4.922%	4.962%	4.962%	5.320%	5.598%	6.534%	6.534%

2021

SBA 504 Rates	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
25 Year	2.692%	2.752%	3.043%	3.073%	2.933%	2.883%	2.813%	2.863%	2.973%	2.912%	2.922%	3.023%
25 Year Refi	2.733%	2.794%	3.084%	3.114%	2.974%	2.924%	2.854%	2.904%	3.014%	2.926%	2.936%	3.036%
20 Year	2.653%	2.714%	2.995%	3.016%	2.845%	2.764%	2.694%	2.744%	2.855%	2.765%	2.775%	2.875%
20 Year Refi	2.696%	2.757%	3.038%	3.058%	2.887%	2.807%	2.737%	2.787%	2.898%	2.779%	2.789%	2.889%
10 Year	2.438%	2.438%	2.684%	2.684%	2.612%	2.612%	2.591%	2.591%	2.673%	2.372%	2.793%	2.793%

2020

SBA 504 Rates	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
25 Year	3.710%	3.460%	2.878%	3.029%	2.758%	2.597%	2.406%	2.66%	2.406%	2.582%	2.552%	2.622%
20 Year	3.639%	3.388%	2.804%	2.955%	2.683%	2.522%	2.341%	2.210%	2.361%	2.553%	2.523%	2.583%

2019

SBA 504 Rates	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
25 Year	4.877%	4.767%	4.737%	4.527%	4.387%	4.086%	4.006%	3.626%	3.455%	3.480%	3.740%	3.640%
20 Year	4.751%	4.641%	4.581%	4.360%	4.260%	3.978%	3.908%	3.526%	3.355%	3.398%	3.679%	3.579%

2018

SBA 504 Rates	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
25 Year							5.316%	5.346%	5.286%	5.207%	5.317%	4.987%
20 Year	4.64%	4.94%	4.92%	5.024%	5.214%	5.314%	5.254%	5.294%	5.244%	5.153%	5.253%	4.922%

2017

SBA 504 Rates	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
20 Year	4.58%	4.60%	4.83%	4.62%	4.66%	4.59%	4.76%	4.53%	4.37%	4.57%	4.51%	4.50%

2016

SBA 504 Rates	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
20 Year	4.82%	4.31%	4.54%	4.30%	4.31%	4.22%	4.08%	4.08%	4.09%	3.99%	4.35%	4.59%

2015

SBA 504 Rates	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
20 Year	4.59%	4.53%	4.79%	4.58%	4.84%	5.05%	4.95%	4.89%	4.89%	4.76%	4.74%	4.86%

2014

SBA 504 Rates	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
20 Year	5.53%	5.30%	5.28%	5.18%	5.07%	5.06%	4.94%	4.95%	4.99%	4.81%	4.87%	4.77%

2013

SBA 504 Rates	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
20 Year	4.20%	4.28%	4.29%	4.15%	4.14%	4.52%	5.22%	5.23%	5.69%	5.44%	5.45%	5.45%

2012

SBA 504 Rates	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
20 Year	4.83%	4.70%	4.79%	4.74%	4.45%	4.49%	4.45%	4.44%	4.27%	4.25%	4.16%	4.00%

2011

SBA 504 Rates	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
20 Year	5.73%	6.06%	5.93%	5.89%	5.63%	5.51%	5.58%	5.13%	4.69%	4.83%	4.94%	4.94%

2010

SBA 504 Rates	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
20 Year	5.79%	5.55%	5.6%	5.77%	5.52%	5.29%	5.21%	4.93%	4.62%	4.95%	5.09%	5.56%

2009

SBA 504 Rates	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
20 Year	6.66%	5.70%	5.6%	5.25%	5.37%	5.89%	5.24%	5.39%	5.14%	5.33%	5.5%	5.46%

2008

SBA 504 Rates	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
20 Year	6.14%	6.13%	6.46%	6.34%	6.46%	6.65%	6.84%	6.99%	6.57%	6.57%	7.72%	7.17%

2007

SBA 504 Rates	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
20 Year	6.29%	6.26%	6.2%	6.29%	6.28%	6.28%	6.79%	6.75%	6.53%	6.54%	6.48%	6.26%