— Prepared forName the businessOwner
Asset-based line
A monitored line against a borrowing base of eligible receivables, domestic and foreign, and inventory. Closest to a conventional asset-based facility, which is why lenders prefer the shape to CAPLines.
Priced at 9.75%, a 7.00% base plus 2.75%. Base rates quoted here are as of October 2026 and move with the FOMC.
$1.20M
Line available, limited by what you asked for
9.75%
Rate, ceiling 10.00%
$6,338
Interest a month at 65% drawn
Borrowing baseEligibleAdvance
Accounts receivable$1,400,000 less $180,000 ineligible$1,220,000$976,000
Inventory$900,000 less $140,000 ineligible$760,000$380,000
Borrowing base$1,980,000$1,356,000
Guaranty fee, 36-month termWCPCAPLine
Fee basisGuaranteed portion at 75 percent$900,000$900,000
Fee rateBoth charged once at approval, set by the term, not by how much of it the line is drawn0.00%3.50%
Guaranty fee$0$31,500
DifferencePositive means the WCP fee is lower for this amount and term$31,500—
Cost of the facility, drawn 8 monthsAmount
Average balance drawn$780,000
Interest at 9.75%, 8 months drawn$50,700
WCP guaranty fee, 0.00% once at approval$0
Packaging and closing$3,500
Total costInterest and fees. A line repays no principal on a schedule.$54,200
The pilot ends before your term does
WCP authorization runs to July 31, 2027, about 9 months from today. A 36-month facility started now has roughly 27 months falling beyond that date. Existing loans are not unwound when a pilot lapses, but renewals, increases and new facilities depend on the program being extended or made permanent. Ask your lender what happens to yours if it is not.Where the WCP fee saves
On the rates entered, the WCP fee is $31,500 below a CAPLine for $1,200,000 over 36 months. Both are paid once at approval on the guaranteed portion, so the saving comes from the lower rate, not from leaving the line idle. Confirm the WCP rate for this maturity in SBA's current fee notice.What this does not model
Monitoring is the price of an asset-based facility: field examinations, borrowing base certificates, and in many cases a lockbox. Only lenders holding PLP-EWCP delegated authority get automatic delegated authority here, so your lender's status affects the timeline more than your file does. Fixed-rate ceilings sit on a separate schedule from the variable caps used above. The WCP fee rate is an input because SBA sets it by fiscal year and maturity. The CAPLine fee follows the FY2027 7(a) schedule unless you enter your own, and is zero for qualifying manufacturers, food supply chain and rural businesses at $700,000 or less.