SBA 7(a) Loan Calculator

This prices an SBA 7(a) loan the way a 7(a) is actually priced: a base rate, usually WSJ prime, plus the lender's spread, with the one-time guaranty fee charged on the guaranteed portion rather than on the whole loan. Enter the amount, the base rate, the spread and the term and it returns the monthly payment, the guaranty share of 85 percent up to $150,000 or 75 percent above, the fee from the statutory schedule, and the effective annual cost of the money you actually receive. Two more actions re-amortise the loan after a move in the base rate and set the ten year term against the twenty five year one. No prime rate is baked in, so nothing here goes stale, and the fee basis is a choice because SBA and Congress have waived or reduced these fees in particular fiscal years. Closing costs, packaging fees and the lender's own charges are not included.