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SBA loan calculator

Calculate the monthly payments and total cost of a government-guaranteed business loan.

Small Business Administration (SBA) loans offer low-interest financing to small businesses that struggle to qualify for a bank loan. This calculator can give you an estimate of your loan payments and the total interest cost of most SBA loans. To use this business loan calculator, enter the loan amount, interest rate and repayment term you expect to receive.

SBA loan monthly payment calculator

See how much you'll pay

Your loan
Loan amount
$
Loan terms (in years)
Interest rate
$%

Fill out the form and click on “Calculate” to see your
estimated monthly payment.

or

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Based on your loan terms…

You can expect to pay back
$
per month

This breaks down to…

$
in
principaland
$
in
interest
charged, with a total cost of $Compare SBA loans now

3 numbers you need to use this calculator

To use this SBA loan calculator, you'll need an estimate of the loan amount, interest rate and term you expect to receive on your government-guaranteed loan. If you haven't prequalified for an SBA loan yet, you might not have those numbers on hand. But you can still get a rough estimate based on limits that the SBA sets on these loans.

1. SBA loan amounts

Most SBA loans are available between $50,000 and $5 million, though there are some exceptions.

  • SBA Microloans are available up to $50,000
  • SBA Express and 7(a) Small Loans are available up to $350,000
  • SBA Community Advantage Loans are available up to $250,000

The loan amount your small business needs might affect the SBA loan program you decide to apply for.

How SBA loan programs work

2. SBA loan interest rates

The SBA also sets limits to how much lenders can charge in interest for each loan program. In most cases maximum interest rate also varies depending on your loan amount and repayment term.

Here's how interest rates break down by loan amount for loans with a term of less than 7 years:

  • Loans up to $25,000: Up to 7.5%
  • Loans between $25,001 and $50,000: Up to 6.5%
  • Loans over $50,000: Up to 5.5%

Here's how interest rates break down by loan amount for loans with a term of 7 or more years:

  • Loans up to $25,000: Up to 8%
  • Loans between $25,001 and $50,000: Up to 7%
  • Loans over $50,000: Up to 6%

This doesn't apply to all SBA loans, however. Make sure you're using interest rates that fit into the range available for the loan program you're considering.

A breakdown of SBA loan interest rates

3. SBA loan terms

Most SBA loan programs come with a maximum term of 10 years for working capital expenses and 25 years for real estate expenses.

But the loan term you receive typically depends on what you're funding. For example, if you plan on using the SBA loan to buy a piece of equipment, then the loan term is based on on how long your lender expects that equipment to be usable.

Consider how long you expect to receive revenue from the project you need to finance when estimating your loan term.

SBA loan calculator limitations

This business loan calculator can give you a general estimate for the monthly payment and total interest cost to expect on an SBA loan. But it can't tell you everything you need to know before you sign on to an SBA loan.

Not all fees are included

SBA loans come with a wide range of possible fees compared to other small business loans. Here are the most common fees for SBA 7(a) loans:

  • SBA guarantee fees range from 0.25% to 2% of the guaranteed amount of the loan.
  • Packaging fees run from 2% to 3% of the loan, if you use a service to help finish the application.
  • Servicing fees can reach 0.55% or even 3% per year you take to repay the loan
  • Late payment fees reach 5% of the amount due, if you miss a payment by more than 10 days.

Other fees may apply — especially if you receive a loan that isn't part of the 7(a) program.

How SBA guarantee and other common fees work

It's not ideal for PPP, EIDL and SBA 504 loans

This SBA loan calculator might not give an accurate estimate of payments on a Paycheck Protection Program (PPP) loan for Economic Injury Disaster Loan (EIDL). That's because these COVID-19 assistance programs come with deferred terms, which this calculator doesn't factor in.

This calculator also may not be useful if you want an SBA 504 loan. That's because two lenders fund a 504 loan, which typically charge different interest rates.

No amortization schedule

This calculator doesn't provide an amortization schedule, which breaks down each payment by the amount that goes toward interest and principal. You can get an estimated amortization schedule by prequalifying with an SBA lender.

Bottom line

This SBA loan calculator is meant to help small businesses get an estimate on the monthly payments and total cost of an SBA 7(a) loan. Use it to compare SBA loans to other small business loans or decide if the program is right for you.

Read our guide to the best SBA lenders before you apply.

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