NADCO, the trade association for the nation's Certified Development Companies (CDCs), reports the following SBA 504 fixed interest rates for January 2021.

The rates below are those quoted by NADCO. The Base Rate is the base P&I rate of the loan. The Effective Rate includes three servicing fees built into the monthly payment over the full-term of the loan and the closing costs that are added to the loan. The Effective Rate is not an APR. Click here for an explanation of how the interest rates are calculated. Interest rates are typically set on the first Tuesday of a month, with loans funding on the second Wednesday of the month.

20-Year Loan
	Base Rate	Standard Effective Rate	Refinancing Effective Rate
January 2021	1.18%	2.66%	2.70%
December 2020	1.11%	2.59%	2.63%
November 2020	1.05%	2.36%	2.37%
October 2020	1.08%	2.40%	2.40%
September 2020	1.05%	2.37%	2.37%
August 2020	0.90%	2.21%	2.22%
July 2020	1.03%	2.35%	2.35%*
June 2020	1.21%	2.53%	2.53%
May 2020	1.37%	2.69%	2.69%
April 2020	1.64%	2.96%	2.96%
March 2020	1.49%	2.81%	2.81%
February 2020	2.07%	3.39%	3.39%
January 2020	2.32%	3.64%	3.65%
* Estimate as no 20-year refinancing bonds were sold
25-Year Loan
	Base Rate	Standard Effective Rate	Refinancing Effective Rate
January 2021	1.28%	2.70%	2.74%
December 2020	1.21%	2.63%	2.67%
November 2020	1.14%	2.40%	2.40%
October 2020	1.17%	2.43%	2.43%
September 2020	1.15%	2.41%	2,41%
August 2020	1.01%	2.27%	2.27%
July 2020	1.15%	2.41%	2.41%
June 2020	1.34%	2.60%	2.60%
May 2020	1.50%	2.76%	2.76%
April 2020	1.77%	3.03%	3.03%
March 2020	1.62%	2.88%	2.88%
February 2020	2.20%	3.46%	3.47%
January 2020	2.45%	3.71%	3.72%
10-Year Loan- sold every other month
	Base Rate	Standard Effective Rate	Refinancing Effective Rate
January 2021	0.67	2.45%	2.48%*
November 2020	0.65%	2.23%	2.23%
September 2020	0.70%	2.29%	2.29%
July 2020	0.81%	2.40%	2.40%
May 2020	1.06%	2.65%	2.66%*
March 2020	1.25%	2.85%	2.85%*
January 2020	2.18%	3.80%	3.81%*
* Estimate as no 10-year refinancing bonds were sold