TYPICAL COMMERCIAL LOAN CALC FREE

*Export Working Capital Loans have a separate fee schedule.

Loan funds may be used for a variety of business uses, including upgrading equipment, working capital, for a seasonal line of credit, inventory, or even to pay off high-interest debt in certain cases. The maximum loan amount for an SBA 7(a) loan is $5 million and the maximum repayment period is 25 years, though most loans carry a repayment term of up to 10 years. For loans of $350,000 or less: 2% of the guaranteed portion.For loans with a maturity of 12 months or less:.For loans with a maturity that exceeds 12 months, the fees are:.The 7(a) fees* for loans approved in FY 2022 (between October 1, 2021, through September 30, 2022) are: Fixed 7(a) loan rates are tied to the prime rate, SBA Optional Peg Rate or Libor (though Libor is being phased out). Variable rates are based on the prime rate. Interest – Variable rates are based on the prime rate.Principal – Original amount of the loan.The costs of a 7(a) loan include the following: This means you may need to check with different financial institutions in order to find the right lender for your qualifications. Each lender must follow SBA guidelines but may impose their own requirements as long as they don’t discriminate against borrowers on a prohibited basis. Loan proceeds may be used for any number of specific purposes, including: new construction, expansion or renovation, or to purchase land or buildings to purchase equipment, fixtures, leasehold improvements working capital for a seasonal line of credit, inventory or starting a business or even to refinance debt for compelling reasons. The SBA 7(a) loan is the most popular loan program.

See the most common SBA loans for additional guidance. Some expenses don’t apply to all, and others may have special considerations that are unique to the loan. Each loan will have slightly different fees and payment terms. In addition to using the calculator, it’s wise to become familiar with the type of SBA loan you are interested in.

TYPICAL COMMERCIAL LOAN CALC FREE

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Typical commercial loan calc