SBA issued Information Notice 5000-848801, 7(a) Fees Effective October 1, 2023, for Fiscal Year 2024 (dated August 29, 2023). The new fees will be effective for loans approved by SBA during the period October 1, 2023 through September 30, 2024.
The FY 2024 lender’s Annual Service Fee (Upfront Fee) will be:
- For loans with a gross approval amounts (guaranteed and unguaranteed portions) of $1 million and less – zero.
- For loans with gross approval amounts (guaranteed and unguaranteed portions) greater than $1 million – 0.55% of the guaranteed portion of the outstanding balance of the loan.
The SBA Guaranty Fee (Upfront Fee) for loans with maturities greater than 12 months [excluding Export Working Capital Program (EWCP) loans and SBA Express loans made to veteran-owned businesses the SBA Guaranty Fee (Upfront Fee)] will be:
- For loans with gross approval amounts (guaranteed and unguaranteed portions) of $1 million or less – zero.
- For loans with gross approval amounts (guaranteed and unguaranteed portions) over $1 million up to and including $2 million –
- 1.45% of the guaranteed portion of the loan up to and including $1 million and
- 1.70% of the guaranteed portion of the loan over $1 million.
- For loans with gross approval amounts (guaranteed and unguaranteed portions) over $2 million –
- 3.50% of the guaranteed portion of the loan up to and including $1 million and
- $3.75% of the guaranteed portion of the loan over $1 million.
Please see the notice for information regarding the fees charged when two or more loans with maturities longer than 12 months are approved within 90 days of each other, and when there is an increase in the original loan approval amount. Please also refer to the notice for information regarding the FY 2024 fees that will apply to SBA Express loans made to veteran-owned small businesses and to EWCP loans.
