{"ok":true,"canonical_url":"https://dealroom.so/glossary/fixed-or-variable-spread","api_url":"https://dealroom.so/api/public/glossary/fixed-or-variable-spread","data_freshness":{"sba_records_through":"2026-05-31","fdic_records_through":"2026-03-31","dealroom_last_updated":"2026-06-15","timezone":"America/Chicago"},"source_summary":["Public SBA 7(a) loan records","FDIC institution data","DealRoom lender and franchise enrichment"],"term":{"slug":"fixed-or-variable-spread","term":"Fixed or Variable Spread","group":"The loan itself","definition":"This refers to whether the interest rate markup above a benchmark (like Prime) stays constant or can change over the loan's term. It directly impacts your monthly payments.","what_it_means":"SBA 7(a) loans have a variable interest rate tied to a benchmark like WSJ Prime or Term SOFR, plus a \"spread\" or margin. This spread can either be fixed (e.g., Prime + 2.75%, always) or variable (e.g., changes after a certain period). Most 7(a) loans have a fixed spread, meaning only the benchmark rate changes.","url":"https://dealroom.so/glossary/fixed-or-variable-spread","official_sources":[{"slug":"13-cfr-part-120","title":"13 CFR Part 120 — Business Loans","official_url":"https://www.ecfr.gov/current/title-13/chapter-I/part-120","official_label":"View on eCFR","authority_tier":1,"publisher":"Office of the Federal Register","source_guide_url":"https://dealroom.so/sba-7a/sources/13-cfr-part-120"}],"related":[{"slug":"variable-rate","term":"Variable rate","url":"https://dealroom.so/glossary/variable-rate"},{"slug":"spread","term":"Spread","url":"https://dealroom.so/glossary/spread"},{"slug":"wsj-prime","term":"WSJ Prime","url":"https://dealroom.so/glossary/wsj-prime"},{"slug":"benchmark","term":"Benchmark","url":"https://dealroom.so/glossary/benchmark"}],"related_questions":[{"question":"Are SBA 7(a) loan interest rates fixed or variable, or both?","url":"https://dealroom.so/sba-loans/basics/are-sba-7-a-loan-interest-rates-fixed-or-variable-or-both"},{"question":"Are SBA 7(a) loan interest rates fixed or variable?","url":"https://dealroom.so/sba-7a/questions/are-sba-7-a-loan-interest-rates-fixed-or-variable"},{"question":"Are SBA 7(a) loan interest rates typically fixed or variable?","url":"https://dealroom.so/sba-loans/basics/are-sba-7-a-loan-interest-rates-typically-fixed-or-variable"},{"question":"Are interest rates on SBA 7(a) loans fixed or variable?","url":"https://dealroom.so/sba-loans/basics/are-interest-rates-on-sba-7-a-loans-fixed-or-variable"},{"question":"Are SBA 7(a) loan interest rates usually fixed or variable over time?","url":"https://dealroom.so/sba-loans/basics/are-sba-7-a-loan-interest-rates-usually-fixed-or-variable-over-time"},{"question":"Are SBA 7(a) loan interest rates fixed, variable, or can I choose?","url":"https://dealroom.so/sba-loans/basics/are-sba-7-a-loan-interest-rates-fixed-variable-or-can-i-choose"}]},"caveats":["Definitions represent DealRoom's plain-English interpretation for buyers; verify regulatory terms against the official SBA and eCFR sources listed.","Not legal, tax, or financial advice, and not an SBA eligibility determination."],"citation":{"label":"DealRoom.so Glossary — Fixed or Variable Spread","url":"https://dealroom.so/glossary/fixed-or-variable-spread","source_type":"DealRoom Data"}}