Federal Funds Rate Held at 3.50%–3.75% at the April 2026 FOMC Meeting

The Federal Open Market Committee (FOMC) reconfirmed the federal funds target rate at 3.50%–3.75% at its July 29, 2026 meeting (a 9–3 vote) — unchanged from the April 29, 2026 meeting. The bank prime loan rate — the benchmark for many variable small-business loans and lines of credit — was 6.75% at the time of that meeting; it was 7.00% as of September 21, 2026, per the Federal Reserve's H.15 release.

With the target range holding rather than falling further, prime-linked business lines of credit stay in the 9%–11% range for most borrowers after lender spreads — meaningfully higher than the 2015–2022 average. That backdrop hasn't slowed SBA-backed demand: the agency guaranteed 77,600 loans under the 7(a) program and 6,750 loans under the 504 program in FY2025 — 84,400 loans in total, worth $44.8 billion — fixed-rate programs less exposed to Fed policy swings than variable-rate bank lines.

https://clearvaluelending.com/reports/stats/federal-funds-rate-june-2026