Whether it is worth using an SBA loan broker depends on how much work your file needs, because SBA doesn't require you to hire one and it limits what an outside broker or packager can charge you. A broker, packager or referral agent paid on a 7(a) or 504 loan also has to be listed, with the fee and who paid it, on SBA Form 159, which you, the agent and the lender all sign. This guide covers SBA's fee rules as of October 2026, a worked example, warning signs, and how brokers compare with Lender Match, marketplaces and direct applications.
What SBA loan brokers and packagers do
Under 13 CFR 103.1 (eCFR, current as of October 5, 2026), an Agent is an authorized representative, including an attorney, accountant, consultant, packager or lender service provider, who conducts business with SBA for an applicant or participant. Brokers usually fit one of three roles.
| Role | What it does | Who can pay it |
|---|---|---|
| Packager | Prepares your application for SBA financial assistance | You or the lender |
| Referral Agent | Refers you to a lender, or a lender to you | You or the lender, but not both |
| Lender Service Provider (LSP) | Carries out lender functions such as originating or servicing loans | The lender only |
SBA's SOP 50 10 8.1, effective October 1, 2026, defines packaging services as help completing applications and preparing a business plan, cash flow projections and other documents for the application. An agent you hire can also bill for consulting and for broker or referral services. An LSP works for the lender under an SBA-reviewed agreement, and its charges can't be passed on to you.
Who pays the broker, and what each party may charge
13 CFR 120.221 lists the only fees a lender may collect from an applicant unless SBA Loan Program Requirements allow otherwise, and it says "the applicant is responsible for deciding whether fees are reasonable." The SOP sets the numbers for SBA 7(a) loans.
| Who charges you | What SBA allows | What SBA prohibits |
|---|---|---|
| 7(a) lender | A packaging fee: flat up to $2,500 without documenting the service, hourly, or a percentage capped at the lesser of its non-SBA fee or 5% on loans of $150,000 or less and 3% above that, to a $30,000 maximum, plus out-of-pocket costs | Commitment, bonus, origination, broker, commission, referral or similar fees, points, and passing LSP fees on to you |
| Outside agent you hire | Hourly fees with no maximum if reasonable and documented, or a percentage fee within the agent caps of 3%, 2% and 0.25% by loan size, to a $30,000 maximum | A flat fee charged to all applicants, contingency fees, and services that aren't reasonably necessary |
| LSP | Payment from the lender only | Charging you |
You also may not be charged for the same service by two different entities, so you shouldn't pay a broker and the lender to package the same application. And under 13 CFR 103.4(g), an agent can be paid by both you and the lender only in one case, packaging paid by you and a referral fee paid by the lender, with each side told about the other relationship.
For SBA 504 loans, the SOP sets the same percentage caps and bans for agents an applicant hires, and the CDC may require an application deposit of $2,500 or 1% of the Net Debenture Proceeds, whichever is less. The 7(a) lender caps don't carry over to a commercial real estate project financed through a CDC, since CDC fees are set out separately.
How SBA Form 159 discloses broker fees
SBA Form 159, the Fee Disclosure and Compensation Agreement, covers 7(a) and 504 loans; SBA's page for it was last updated February 15, 2022. The form's instructions say that whenever an Agent is paid by the applicant or the lender to help with the application, the lender, the applicant and the Agent must complete and sign it, one form per Agent. Check these parts before you sign:
- Type of Agent, such as Independent Loan Packager, Referral Agent/Broker or Consultant. An agent doing two jobs can list all of its services for the loan on one form.
- Amount paid by applicant and amount paid by SBA lender, service by service. The form says an Agent may not be paid by both for the same service.
- Itemization once one agent's total compensation exceeds $2,500, explaining the work and, for hourly fees, the rate and hours.
- Your certification that these are the only amounts you've paid or will pay for those services. The form says not to sign until all services and fees are disclosed.
The agent agrees to refund any fee SBA deems unreasonable or prohibited. Your accountant preparing routine statements, the closing attorney and the lender's appraiser don't count as Agents for the form.
A worked example on a $400,000 SBA 7(a) loan
Say a business owner hires a packager to prepare a $400,000 SBA 7(a) loan application with a business plan and projections. These ceilings apply the SOP's tiers as worded, so a loan in the 2% band is capped at 2% of the loan amount, and a quote can come in lower.
| Fee basis | How SBA limits it | On $400,000 |
|---|---|---|
| Percentage of the loan | 2% for loans between $50,000 and the first $1,000,000 | Up to $8,000 |
| Hourly (illustration: 40 hours at $150) | No maximum, but reasonable and documented | $6,000 as billed |
| Disclosure | Itemized on Form 159 above $2,500 | Required either way |
The $8,000 covers every service that agent provides you on the loan, so a referral fee charged to you has to fit inside it. On a $40,000 loan, 3% caps a percentage fee at $1,200. On $2,000,000, 2% of the first $1,000,000 plus 0.25% of the rest comes to $22,500.
That fee sits on top of costs you'd see on any route, such as the lender's allowed charges and SBA's upfront guaranty fee on 7(a) loans, which the SOP lets the lender pass on to you. Our SBA loan fees guide breaks those down. If your accountant can already build projections, the packaging you'd buy may be worth less than the quote.
Broker, Lender Match, marketplace or direct: cost by route
Every route ends at a lender that does its own underwriting, sets terms and decides whether to approve. The routes differ in who finds the lender, who prepares the file and what you pay.
| Route | How it works | Extra cost to you |
|---|---|---|
| Apply directly to an SBA lender | You choose a lender, which may package the file itself | Only the lender's allowed fees |
| SBA Lender Match | SBA prepares a summary of interested lenders two business days after your request; more than 800 lenders take part | SBA's page doesn't mention a charge for using it |
| Financing marketplace | One application goes to several lenders, who compete | Ask how it's paid; a referral agent paid on an SBA loan belongs on Form 159 |
| Independent broker or packager | Prepares the file and refers you to lenders | Hourly or percentage fee within SBA's caps |
SBA says Lender Match isn't a loan application and doesn't guarantee a match or an offer. Lender Match and a marketplace handle the finding part of a broker's job, but neither writes your business plan.
EQ Funding is a financing marketplace: one application reaches lenders who compete to fund your business, and the lender makes the credit decision and sets the terms. Our marketplace vs. bank comparison covers when that helps.
Is it worth using an SBA loan broker for your business?
A broker earns its fee by doing work you can't do well or quickly yourself, which mostly depends on the state of your file.
| Your situation | Broker worth paying? | Why |
|---|---|---|
| Clean tax returns, current financial statements, steady cash flow | Usually not | Lenders can take the file as it stands |
| Buying or starting a business with no projections or plan | Often | That packaging is the work SBA lets agents bill for |
| Declined by your bank and short on time | Sometimes | Compare the fee with routes that reach several lenders at once |
| Loan of $50,000 or less | Rarely | Weigh a fee of up to $1,500 against the hours you'd save |
| 504 real estate project | It depends | A CDC and a third-party lender are already involved, so ask what the agent adds |
Ask any broker which lenders it has placed SBA loans with, whether it takes referral fees from them, and for its fee in writing. An undisclosed business relationship with an entity the agent solicits for is one of the grounds for suspending or revoking an agent under 13 CFR 103.4. Our guide on how to choose an SBA lender covers the lender side.
Red flags before you pay an SBA broker anything
Run this checklist before money changes hands.
- The fee is due only if the loan closes. SBA doesn't allow contingency fees.
- Everyone pays the same flat fee. The SOP bars agents from charging one to all applicants.
- A fee over $2,500 with no itemization. Larger agent fees must be documented.
- You're asked to sign Form 159 early or blank. The form says to wait until every fee is disclosed.
- Claims of SBA affiliation or special influence, or a promise of approval. 13 CFR 103.4(d) lists these as good cause to suspend or revoke an agent.
- A 7(a) lender bills you a broker, referral or origination fee. The SOP prohibits all three.
- A percentage fee above SBA's caps, or one service billed by two parties.
If a fee looks wrong, ask for the itemization and tell your lender. The SOP says 7(a) lenders must review an agent's fees when an applicant complains, and if SBA finds a fee excessive, the agent must reduce it and refund the excess to you.