SBA loan costs: look past the rate
SBA 7(a) loans carry origination fees of 2–4% plus ongoing servicing. A $100K loan at 10.5%/10yrs costs ~$59K in interest and ~$3K in fees before you receive a dollar — price it into your unit economics. Longer terms lower payments but can double lifetime cost.
Estimates; actual SBA pricing varies by lender and program.