Estimate the payment on an SBA 7(a) or 504 loan. Enter the amount, the prime rate plus the lender's spread and the term. You'll get the monthly payment, the SBA guarantee fee, total interest and a year-by-year schedule. For 504, you'll see the bank, CDC and down-payment split.
Last updated:
SBA program
$
7(a): the loan amount. 504: the total project cost.
7(a) rate & term
%
WSJ Prime Rate. Example value; enter today's rate.
%
years
Up to 10 years for working capital & equipment, 25 for real estate.
%
Percent of the guaranteed portion.
$
504 structure
%
10% minimum; 15% to 20% for start-ups or special-purpose property.
%
years
%
Fixed rate set when the debenture is sold. Example value.
%
SBA, CDC and closing fees; often about 2% to 3%.
Enter your values to see the result.
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How to use the SBA Loan Calculator
Choose the program: SBA 7(a) or SBA 504.
Enter the loan amount (7(a)) or total project cost (504).
For 7(a), enter the prime rate, the lender's spread, the term and how the guarantee fee is handled.
For 504, enter your down payment, the bank and CDC rates and their terms.
Review the monthly payment, fees and total interest, and download the schedule.
How SBA loan payments are calculated
Most SBA 7(a) loans have a variable rate set as prime rate + a lender spread. SBA rules cap that spread by loan size. For variable-rate loans the maximum is prime + 6.5% up to $50,000, prime + 6% from $50,001 to $250,000, prime + 4.5% from $250,001 to $350,000 and prime + 3% above $350,000. The monthly payment is a standard amortizing payment, P = L × r ÷ (1 − (1 + r)−n), with r = annual rate ÷ 12 and n = months. Because the rate floats, the payment is adjusted when prime changes.
The SBA guarantees part of the loan, 85% for loans up to $150,000 and 75% above that, and charges the lender an upfront guarantee fee on the guaranteed portion. The lender usually passes it on to you, and it can be financed into the loan.
An SBA 504 loan splits a real estate or major equipment project in three: a bank first loan for about 50%, a fixed-rate CDC/SBA second loan for about 40%, and your down payment of at least 10%. Your monthly cost is the sum of the two loan payments.
SBA 7(a) upfront guarantee fee (FY2025 schedule)
Loan amount
Guaranty
Guaranteed portion
Upfront fee
$100,000
85%
$85,000
$1,700.00
$150,000
85%
$127,500
$2,550.00
$350,000
75%
$262,500
$7,875.00
$700,000
75%
$525,000
$15,750.00
$1,500,000
75%
$1,125,000
$39,687.50
$5,000,000
75%
$3,750,000
$138,125.00
Loans with a maturity over 12 months: 2% of the guaranteed portion up to $150,000; 3% from $150,001 to $700,000; 3.5% of the guaranteed portion up to $1 million plus 3.75% above that for larger loans. Loans of 12 months or less: 0.25%. This is the schedule in effect from fiscal year 2025 (from October 1, 2024). The SBA can change fees each fiscal year, so confirm the current figures with your lender, or switch the fee option to enter your own rate.
Example monthly payments
Loan
Term
At 9.5%
At 10.5%
$150,000
10 years
$1,940.96
$2,024.02
$350,000
10 years
$4,528.91
$4,722.72
$500,000
10 years
$6,469.88
$6,746.75
$1,000,000
25 years
$8,736.97
$9,441.82
Principal and interest only, before financing the guarantee fee.
Frequently asked questions
How do I calculate an SBA loan payment?
Add the lender's spread to the prime rate to get the annual rate, divide by 12 for the monthly rate r, and use P = L × r ÷ (1 − (1 + r)^−n), where n is the number of months. A $350,000 7(a) loan at 9.5% for 10 years is about $4,529 a month.
What is the SBA guarantee fee?
It is an upfront fee the SBA charges on the guaranteed portion of a 7(a) loan. Under the schedule in effect from fiscal year 2025, it is 2% of the guaranteed portion for loans up to $150,000, 3% up to $700,000, and 3.5% (3.75% on any guaranteed amount above $1 million) for larger loans. It can usually be financed into the loan.
What interest rate can lenders charge on an SBA 7(a) loan?
Most 7(a) loans are variable, priced at prime plus a spread. The SBA caps the spread: prime + 6.5% for loans up to $50,000, prime + 6% up to $250,000, prime + 4.5% up to $350,000 and prime + 3% above $350,000. Fixed-rate loans have their own caps.
How long are SBA loan terms?
7(a) loans run up to 10 years for working capital, inventory and equipment, and up to 25 years for real estate. SBA 504 CDC loans have 10-, 20- or 25-year fixed-rate terms. The bank portion often amortizes over 25 years but may have a shorter maturity.
How is an SBA 504 loan structured?
A typical 504 project is financed 50% by a bank first loan, 40% by a fixed-rate loan from a Certified Development Company backed by the SBA, and 10% by your down payment. Start-ups or special-purpose properties usually need 15% to 20% down.
What is the maximum SBA loan amount?
SBA 7(a) loans go up to $5 million. The CDC portion of a 504 loan is generally capped at $5 million, or $5.5 million for certain manufacturing and energy projects, and the total project can be larger because of the bank loan.
Does my SBA payment change when the prime rate changes?
On a variable-rate 7(a) loan, yes. The rate adjusts with prime on the schedule in your note, and the payment is recalculated. This calculator assumes the rate stays where you enter it.
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