SBA Loan Eligibility & Payment Calculator

SBA Loan Preliminary Eligibility & Payment Calculator

Your Business & Loan Request

Desired Loan Amount:

Primary Purpose of Loan:

Estimated Owner's Equity Injection (if applicable):

SBA loans often require some owner equity. Enter the amount you plan to contribute.

Your Primary Industry (e.g., Retail, Manufacturing, Services):

Preliminary Eligibility Checklist (General SBA Guidelines)

Disclaimer: This is a preliminary checklist based on general SBA guidelines and DOES NOT guarantee loan eligibility or approval. Answer to the best of your knowledge. Consult an SBA-approved lender for an official determination.

1. Is your business organized as a for-profit entity?

Yes No

2. Is your business physically located and operating within the United States or its territories?

Yes No

3. Do you believe your business meets the SBA's size standards for your industry?

Yes No Unsure

Use the official SBA Size Standards Tool to verify. (Opens in new tab)

4. (For many SBA loans, e.g., 7(a)) Have you tried and been unable to obtain similar credit from other non-SBA, non-Federal lenders on reasonable terms?

Yes No Not Applicable/Unsure

5. Do you (and any other 20%+ owners) have a satisfactory personal and business credit history (self-assessment)?

Yes No

6. Are you (and any other 20%+ owners) current on all obligations to the U.S. government (e.g., taxes, federal student loans)?

Yes No

7. Does the business have a demonstrated ability to repay the loan from cash flow, or a strong business plan projecting this ability?

Yes No

8. Are all individuals with 20% or more ownership U.S. citizens or Lawful Permanent Residents (LPRs)?

Yes No

Recent SBA guidelines emphasize this for eligibility.

Estimated Loan Payment Calculator

This calculation provides an estimate of principal and interest. It does not include potential SBA guarantee fees or other lender fees, which could increase the total loan cost and payment.

Loan Amount to Calculate:

Estimated Annual Interest Rate:

SBA 7(a) loan rates are typically Prime Rate + a lender's spread (markup), subject to SBA maximums. (Illustrative current Prime Rate around May 2025 is ~7.5%. Maximum spreads can range from approx. +3.0% to +6.5% over Prime, depending on loan size and maturity). Check with lenders for current rates.

Loan Term (Years):

Summary & Next Steps

Preliminary Eligibility Insights:

Estimated Payment Summary:

General Next Steps if Considering an SBA Loan:

Develop a Comprehensive Business Plan: This is crucial for any loan application.
Gather Financial Documents: Including personal and business tax returns, financial statements (balance sheet, income statement, cash flow projections), and other documents as required by the lender.
Check Your Credit: Know your personal and business credit scores and reports. Address any issues if possible.
Research SBA Loan Programs: Understand the specific requirements for different SBA loans (e.g., 7(a), 504, Microloan) to see which best fits your needs.
Contact SBA-Approved Lenders: Use the SBA's LenderMatch tool or contact local banks that are Preferred SBA Lenders.
Be Aware of Fees: Besides interest, SBA loans can involve guarantee fees (paid by the lender to the SBA, often passed to the borrower) and other standard loan closing costs (e.g., appraisals, legal fees). Discuss these with your lender.

Reminder: This tool provides estimates and general guidance only. The SBA and its lending partners have final authority on all loan eligibility and terms.