The Small Business Administration (SBA) determines the maximum fixed and variable rates for SBA loans, which lenders must follow. These rates are tied to the prime rate, the LIBOR rate or an optional peg rate.
For example, if you want to borrow $20,000 at a variable rate with a five-year term, the maximum interest rate would be the current base rate (8.25%) plus 4.25%, totaling 12.5%.