The interest rate on your loan impacts your payment amount a higher interest rate yields a higher payment. Expected interest rate: The calculator will only accept interest rates up to the maximum SBA loan interest rate.The longer the repayment term is for your loan, the lower the monthly payments will be. Loan terms are generally up to 10 years for working capital and up to 25 years for real estate. Term (in years): This is the estimated repayment term of the loan for which you’re applying.SBA Express loans are available in amounts up to $350,000 and 7(a) loans in amounts up to $5 million. Loan amount: The first and most important input into the calculator is the loan amount for which you’re applying.When using our SBA loan calculator, there are four essential pieces of information you’ll need to enter: If you need to calculate payments for an SBA 504 loan, many community development corporations can provide those calculations for you. The SBA 504 loan consists of two separate loans, and our calculator isn’t set up to accurately calculate this loan product. Note: Please don’t use this calculator for calculating interest rates or payments on SBA 504 loans.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |