The current interest rate for a NEWITY SBA 7(a) loan is 10.25% per annum.
The interest rate for 7(a) working capital loans is variable because it is based on the Wall Street Journal (WSJ) Prime Rate, plus 2.75%.
As of March 22, 2023, the current prime rate is 8.00% in the U.S., according to The Wall Street Journal’s Money Rates table.
At the current WSJ Prime rate of 8.0, NEWITY's SBA 7(a) loan interest rate can be calculated as 8.0% + 2.75% = 10.75% per year total interest.
Last Updated: March 22, 2023