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SBA Loan Calculator & Current Rates
Visualize your loan payments and amortization schedule with our SBA 7(a) business loan calculator.
- Small Business Loans Rates and Terms Comparison
- Current Index Rates
- Business Loans: Breaking Down the Basics
- What Are the Differences Between SBA Small Business Loan Options?
- What Is Amortization?
- What Is the Difference Between Principal and Interest?
- What Is an SBA 7(a) loan?
- Who Qualifies for an SBA 7(a) Loan?
- What Is the Maximum SBA 7(a) loan amount?
- Is a Down Payment Required for an SBA 7(a) Loan?
- How Can an SBA 7(a) Loan Be Used?
- How Does SBA7 (a) Loans' Business Loan Calculator Work?
- How Does a Commercial Loan Differ From a Traditional Loan?
- Where Can I Get a Free SBA 7(a) Loan Quote?
- How Can I Speed Up the SBA 7(a) Approval Process?
- Related Questions
- Get Financing
Our business loan calculator is a useful tool for understanding the borrowing costs for your small business. Simply enter different loan amounts, interest rates, and terms (in years) to get your estimated monthly and yearly payments, along with an amortization table.
One quick note: Interest rates change all the time. It can be difficult to know precisely what rate you'll qualify for, as all borrowers are different, but today's interest rate ranges can be found below.
Remember that while our business loan calculator can provide a great approximation, apply through Janover for a free, precise quote.
Small Business Loans Rates and Terms Comparison
Current Index Rates
Business Loans: Breaking Down the Basics
What Are the Differences Between SBA Small Business Loan Options?
Loan Name | Summary |
|---|---|
SBA 7(a) Standard Loan | In five to 10 days, you can get a loan of up to $5 million. SBA guarantees 75% to 85% of this loan. |
SBA 7(a) Small Loan | For loans of up to $350,000. |
SBA 7(a) Express Loan | For loans under $500,000. Turnaround time within 36 hours. The SBA will only guarantee 50% of this loan. |
SBA 7(a) 504 Loan | This loan is used for economic development and can’t be used for working capital or inventory. It often has a lower down payment and lower fees. |
SBA 7(a) CAPLines Loan | This is a line of credit for businesses’ cyclical or short-term needs. |
SBA Export Working Capital Program Loan | For businesses that can generate export sales and that need additional working capital to support these sales. |
SBA Export Express Loan | This loan gives exporters a more efficient way to get financing backed by the SBA for loans and lines of credit of up to $500,000. |
SBA Veterans Advantage Loan | For small business owners owned at least 51% by veterans. |
What Is Amortization?
Like most accounting terms, amortization is a big, scary sounding word with a surprisingly easy definition. Simply put, amortization is the process of spreading out your loan payments over time.
When you look at an amortization calendar (also called an amortization table), you’ll see what your principal payment amount will be each month of your loan, what your interest payment will be each month, and how your total loan balance will change month after month.
What Is the Difference Between Principal and Interest?
The principal amount of your loan is the total amount of money that you’ve borrowed. Interest, on the other hand, is the fee you pay to borrow that amount. It’s a set percentage of the loan amount that you agreed upon when you took the loan.
Interest will continue to compound on your loan until the entire principal balance is paid off. For each payment that you make toward your loan, a portion will go toward your principal and a portion will go toward your interest.
What Is an SBA 7(a) loan?
The SBA in SBA 7(a) stands for the Small Business Administration, a federal department that helps encourage and subsidize new small businesses. The SBA 7(a) loan is one of the most popular commercial loans offered by the SBA, and is geared toward new borrowers and those borrowers who may be considered “weak” in their financial position.
If you qualify for an SBA 7(a) loan, the SBA will partially fund your loan through a private lender. This reduces the risk to lenders, providing borrowers with often significantly more advantageous loan terms.
Who Qualifies for an SBA 7(a) Loan?
As with all loans, eligibility is ultimately decided on a case-by-case basis. However, there are some specifics you’ll definitely need to prove. These include:
An intention to do business in the United States
A demonstrated need for funding
A legitimate business proposal
A previous effort to fund your business through personal assets or other financial resources
Startup costs
Buying a business
Commercial real estate (we also have a useful commercial mortgage calculator)
Working capital
Equipment and supplies
Land
Repairing existing capital
Refinancing debt
Can I use the business loan calculator for different types of loans?
- Yes, our business loan calculator is versatile and can be used to estimate payments for various types of loans, not just SBA loans. Whether it’s for commercial real estate, equipment financing, or a line of credit, you can input the specifics to understand your potential payments.
How can I stay updated on the latest interest rates for business loans?
- For the most current interest rates, visit our dedicated rates page which is regularly updated with the latest information to help you make informed decisions about your business financing options. You can find a comparison of rates, including SBA loan rates and other commercial lending rates, to plan your borrowing strategy more effectively. Visit our Interest Rates page for detailed and up-to-date rate information.
In addition, interested SBA 7(a) borrowers will have to show that they are interested in opening a small business, as defined by SBA’s size standards.
What Is the Maximum SBA 7(a) loan amount?
The most that you can borrow for your small business with an SBA 7(a) loan is $5 million. If you borrow the maximum, the SBA will be guaranteeing $3.75 million of the loan.
If you are looking for a larger loan, try our SBA 504 loan calculator, though this financing type has different eligibility criteria and different terms.
Is a Down Payment Required for an SBA 7(a) Loan?
Yes. There is (generally) a required down payment of 10% of your total loan amount for an SBA 7(a) loan, though different business loans have different requirements. This is only a minimum: Your specific lender may require more.
How Can an SBA 7(a) Loan Be Used?
Your lender will fill you in on exactly how you can and cannot use your SBA 7(a) loan, but generally the loan is available for a wide variety of small business-related expenses. These include:
Some lenders are more strict than others about how SBA 7(a) loans can be used. Be sure to ask a lot of questions when choosing a lender, including questions about whether the loan can fund each individual purpose you intend to put it towards.
Learn more about uses for SBA 7(a) loans here.
How Does SBA7 (a) Loans' Business Loan Calculator Work?
Math, of course! We’ll determine your monthly payment and amortization schedule based on the total amount that you’re borrowing, the interest rate that you agreed upon for your loan, and the term of your loan.
In addition to showing you your monthly payment, the calculator will also break down for you how much of each payment will go toward principal and interest, and how your balance will change with each payment.
How Does a Commercial Loan Differ From a Traditional Loan?
When you get a traditional loan — say, a loan to buy a house — the loan covers the purchase of the property only. A business loan, on the other hand, funds more than just your basic real estate. You can use it to purchase supplies, build up your inventory, and cover your start-up costs, among other things. Differences also exist in how your loan is appraised and approved.
Where Can I Get a Free SBA 7(a) Loan Quote?
We’re committed to make it easy for individuals to find out how much they can borrow with an SBA 7(a) loan. Get a quote by answering the form below. Answer a few questions, and we’ll not only give you an estimate, we’ll also connect you with the best qualified lenders. It’s free to use, and there is no obligation.
How Can I Speed Up the SBA 7(a) Approval Process?
In a hurry? Look for either an SBA Preferred lender or an SBA Express lender. Both have the power to streamline the loan process and get you the funding that you need faster. Note that SBA Express loans have a maximum loan amount of $500,000, however.
Fill out the form — it only takes a minute — and we'll swing into action to get you a quote and answer all questions you have along the way.