What is the SBA loan guarantee fee?

The SBA charges a guarantee fee to the lender (usually passed to the borrower) as a percentage of the guaranteed portion of the loan: 0% for loans under $150,000; 2% for loans $150,000-$700,000; 3% for loans $700,001-$5 million. For FY2025, the SBA waived guarantee fees on loans under $1 million for first-time borrowers. This waiver can save $7,000-$21,000 on a $700K-$1M loan.