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FundingForBusinesses

Independent research · Not a lender or broker · We never take applications|Disclosures

Calculator

Business loan payment calculator

Work out what a term loan actually costs, including the guarantee fee and closing costs most calculators quietly leave out. Fees financed into a loan raise the effective APR above the quoted rate - sometimes by more than a point.

Runs entirely in your browser. Nothing you type reaches us.

Your numbers

Most SBA 7(a) loans are variable and reset with the prime rate, so this is today's rate, not a fixed one.

SBA guarantee fee plus closing costs, as a percentage of the loan. Set to 0 if you are paying fees separately in cash.

Monthly payment

$4,722.72

Total repaid

$566,727

over 10 yr

Total interest

$216,727

Fees financed

$9,695

net proceeds $340,305

Effective APR

11.18%

Including financed fees

Balance over time

The curve is flat at the start because early payments are mostly interest. Half the loan is still outstanding around month 76 of 120.

This calculator runs entirely in your browser. Nothing you type is sent to us, stored, or shared. Assumes a fully amortising loan with equal monthly payments and no prepayment penalty. SBA loans with terms of 15 years or more carry a declining prepayment penalty for the first three years. Results are estimates for comparison only - they are not an offer, a quote, or advice, and your actual terms will be set by a lender.

The quoted rate is not the APR

If fees are financed into the loan you borrow more than you receive, and the rate on the money you actually got is higher than the rate on the note. On a 7(a) loan with a guarantee fee near 3%, the gap is usually a few tenths of a point over a long term and considerably more over a short one.

Variable rates move

Most SBA 7(a) loans are variable, resetting quarterly against the prime rate. A payment calculated at today's rate is a snapshot. It is worth running the same numbers two or three points higher to see whether the payment still works if rates rise.

Questions

Why is my effective APR higher than the rate I was quoted?
Because fees financed into the loan increase what you repay without increasing what you receive. The note rate applies to the full loan; the APR applies to the net proceeds.
Are SBA loan payments monthly?
Almost always, on a fully amortising schedule with no balloon. That is one of the programme's genuine advantages over conventional commercial loans, which frequently balloon in five to ten years.

We are a publisher, not a lender or broker. We never take applications and are never paid by borrowers. Read the full disclosures.