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 October 9, 2025 and change monthly with each funding cycle. Learn more about SBA 504 loans.
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% | ||
| 25 Year Refi | 6.541% | 6.312% | 6.272% | 6.461% | 6.421% | 6.401% | 6.401% | 6.262% | 6.032% | 5.925% | ||
| 25 Year for Manufacturing | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 5.680% | ||
| 20 Year | 6.581% | 6.350% | 6.310% | 6.450% | 6.410% | 6.390% | 6.390% | 6.250% | 6.020% | 5.983% | ||
| 20 Year Refi | 6.611% | 6.380% | 6.340% | 6.480% | 6.440% | 6.420% | 6.420% | 6.280% | 6.050% | 5.986% | ||
| 20 Year for Manufacturing | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 5.732% | ||
| 10 Year | 6.642% | 6.642% | 6.337% | 6.337% | 6.204% | 6.204% | 6.174% | 6.174% | 5.766% | 5.766% | ||
| 10 Year for Manufacturing | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 5.290% |
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% |
