Government-backed SBA loans offer low interest rates and long repayment terms, which can make them a great way to fund your business. NerdWallet’s SBA loan calculator can help you estimate monthly bills and total payments on an SBA 7(a), Express or 504 loan to decide if one is a good fit.
The best small-business loan for you is typically the one with the most favorable rates and terms that you can qualify for — which depends on how long you’ve been in business, your credit score, your revenue and other factors.
SBA loan calculator
Understanding your SBA loan calculator results
This calculator includes some of the core elements of an SBA loan, including your monthly principal and interest. But it doesn’t include some fees that your lender may charge.
Monthly payment: This is the amount you’ll owe your lender each month. It includes payment toward your principal, interest and guarantee fee (if applicable).
Total payments: This is the total amount you will pay…
This article was written by Rosalie Murphy and originally published on www.nerdwallet.com