Before you sign for a loan, know exactly what it will cost you each month and in total. Enter the amount, interest rate and term from a lender’s offer to see your payment, the interest you’ll pay, and how much you’d save by paying a little extra each month.
Estimates only. Your lender's offer, fees and rate decide your real payment. Numbers stay on this device.
How to read the results
- Monthly payment is what leaves your account each month for principal and interest.
- Total cost of borrowing adds the interest and any upfront fees, such as origination or SBA guarantee fees. It’s the fairest way to compare two offers.
- The chart shows how early payments are mostly interest, and later ones mostly principal.
- Extra payments go straight to principal, so you finish sooner and pay less interest. Check your loan has no prepayment penalty first.
Frequently asked questions
What interest rate should I enter?
The rate from your lender’s offer. SBA 7(a) loan rates are capped at a margin above the prime rate, which changes over time; banks and online lenders set their own.
Does this include taxes, insurance or other costs?
No. It covers principal, interest and the upfront fees you enter. Add the payment to your cash flow forecast to check you can comfortably afford it.
Is this the same as the APR?
No. APR spreads fees over the loan’s life as a yearly rate. Use the total cost of borrowing here to compare offers side by side.
Last reviewed October 27, 2026.
