SBA Loan Calculator
By Lauren Ward | Updated September 18, 2025
Using an SBA business loan calculator is a smart first step in understanding the financial commitment you’re making when applying for a Small Business Administration (SBA) loan. By entering key details such as the loan amount, interest rate, and repayment term, you can quickly generate an estimate of your monthly payments and total interest costs.
Estimate SBA Loan Monthly Payment
Applying for a small business loan requires a little bit of organization and homework, which is why it’s helpful to start with a loan calculator. It can help save time by showing you what different loan terms look like in terms of budget, payoff time, and total cost.
For SBA loans, you have three loan types to choose from: 7(a), 504, and microloans. Many small business owners choose either the 7(a) loan or the microloan option. However, you may need a 504 loan if you want to purchase or develop real estate or invest in long-term equipment.
An SBA loans calculator is fairly straightforward, but there are some differences between it and other loan calculators you may have used. The details may vary depending on the specific loan type, but you’ll likely see the following fields on your SBA calculator: loan amount, project cost, down payment, interest rate, bank origination fee, and loan term.
• Loan amount: How much you plan to borrow. Loan amounts vary based on the type of SBA financing you’re interested in.
• Interest rate: The cost of the loan. The amount of business loan interest you’re charged depends on your credit score and other factors, but the good news is that the SBA has a maximum cap on lender rates.
• Loan term: How long you’ll make monthly payments until the loan matures. The shorter the loan term, the higher your monthly payment — but also the less you’ll pay in interest over time.
• Bank origination fee (7(a) loans only): A one-time fee charged by the lender to cover administrative costs associated with the loan underwriting process.
• Project cost (for 504 loans only): The amount of capital needed for the project. This should include land, equipment, and other costs you may incur.
• Down payment (for 504 loans only): How much you’re able to put down towards the project. For a 504 loan, you must put down at least 10% towards the project.
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How to Use the SBA Loan Calculator
Step 1: To use an SBA loan calculator, you first need to select your loan type. You can choose between a 7(a), 504, or a microloan (more details on the differences below).
Step 2: Next, choose your loan amount. If you’re undergoing a major project that revolves around real estate and purchasing long-term equipment, you’ll probably choose between a 7(a) and a 504 loan. A 504 loan requires you to know the total project cost and be able to make a down payment of at least 10% or more. If a down payment isn’t possible at the moment, then consider a 7(a).
Step 3: Enter in the interest rate. If you don’t know what interest rate to put in, start with 10% to get a ballpark idea of how much a loan will cost you monthly and over the life of the loan.
Step 4: Select the loan term, which is the length of time it will take you to pay back the money you borrowed. Your loan term will greatly impact your monthly payment. Longer terms have smaller monthly payments, but you’ll pay more in interest over the life of the loan.
Step 5: For 7(a) loans, you’ll enter in an origination fee. Lender fees can vary, but are typically 1% to 5% of the total loan amount. You can experiment with different numbers and compare multiple lender options to make sure you get the best deal.
Recommended: SBA Loan Requirements & Tips for Applying
SBA Loan Calculator Limitations
There are a few limitations when using an SBA loan calculator. The first is that it doesn’t account for additional lender fees that may be charged. It also doesn’t allow for a variable interest rate. Your total repayment may vary with these additional factors at play, so keep that in mind.
Understanding SBA Loan Terms and Rates
SBA borrowers have three options to choose from: 7(a), 504, and the SBA Microloan.
• 7(a): Maximum loan term of 10 years and a maximum loan amount of $5 million. Interest rates vary depending on how much you borrow and range from base rate plus 3.0% to base rate plus 6.5%.
• 504: Offers up to 25-year loan terms with a maximum loan amount of $5.5 million. Can be used for real estate, construction, and machinery.
• Microloan: Offers loans up to $50,000. Interest rates are usually between 8% and 13%, but varies depending on the lender, and the maximum loan term is seven years.
While SBA loans come with many benefits, remember that there might be a better loan option on the market that is more appropriate for your needs. There are many other types of small business loans, like a business line of credit or a merchant cash advance. Consider all of your options before submitting any applications.
Recommended: Conventional Business Loans vs SBA Loans
Differences Between SBA Loan Options
Check out this side-by-side comparison of multiple SBA loans.
| Standard 7(a) | Small 7(a) | 504 | Microloan | SBA Express | |
|---|---|---|---|---|---|
| Maximum Loan Amount | $5 million | $350,000 | $5.5 million | $50,000 | $500,000 |
| Maximum Interest Rate | Base rate plus 6.5% | Up to the SBA maximum | Varies on market rate for 10-year U.S. Treasury issues | Varies on lender, but is usually between 8% and 13% | Up to the SBA maximum |
| Maximum Loan Term | 10 years | 10 years | 25 years | 7 years | 10 years |
The Takeaway
An SBA loan payment calculator provides business owners with all of the fields necessary to truly understand the cost of borrowing. With this knowledge in hand, you can make the best decision for your company and its continued growth.
If you’re seeking financing for your business, SoFi is here to support you. On SoFi’s marketplace, you can shop and compare financing options for your business in minutes.
FAQ
Is it difficult to get an SBA loan?
Getting an SBA loan can be challenging due to stringent eligibility criteria and a thorough application process. However, with a solid business plan, good credit, and strong financials, your chances improve. SBA loans are designed to support small businesses, so preparation and persistence are key.
What is the easiest SBA loan to get?
The SBA Microloan is often considered the easiest SBA loan to obtain. It offers smaller amounts, typically up to $50,000, with less stringent requirements and a simpler application process. These loans are ideal for startups and small businesses needing funds for working capital or equipment.
How much money can be borrowed from the SBA?
If you qualify, you can borrow as much as $5.5 million dollars with an SBA 504 loan. For a 7(a) loan, the maximum is $5 million. The approval amount, however, depends on your revenue, credit score, and available collateral.
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