SBA Loan Calculator
SBA 7(a) loans are made by banks and partly guaranteed by the US Small Business Administration. The guaranty comes with an upfront fee, usually added to the loan. This calculator shows the payment and total cost with that fee included.
Enter your figures below. Results update as you type.
Monthly payment$4,828.99
- Loan amount 60%
- Interest 38%
- Guaranty fee 1%
- SBA guaranty fee
- $7,875.00
- Amount financed
- $357,875.00
- Total interest
- $221,603.34
- Total of payments
- $579,478.34
- APR including the fee
- 11.04%
The guaranty fee and maximum rates change with SBA notices. Treat this as an estimate and confirm the current figures with an SBA lender.
- Balance
- Interest paid
- Total paid
How the SBA Loan calculation works
Guaranty fee = loan x guaranteed % x fee %; payment is calculated on the loan plus the fee
On a $350,000 loan with a 75% guaranty and a 3% fee, the guaranty fee is $7,875. Financed at 10.5% over 10 years, the payment is $4,828.99 and the APR including the fee is 11.04%. The fee percentage changes with SBA notices and loan size, so enter the figure your lender quotes.
Frequently asked questions
How is the SBA guaranty fee calculated?
It is a percentage of the guaranteed portion of the loan, not the whole loan. On $350,000 with a 75% guaranty, the guaranteed portion is $262,500, and a 3% fee on that is $7,875.
What is the interest rate on an SBA 7(a) loan?
Rates are negotiated with the lender and capped by the SBA at the prime rate plus a set spread that depends on loan size. Ask lenders for their current rate, since the cap moves whenever prime does.
Related calculators
Last reviewed: