# Business loan payment calculator
**Short answer:** A $150,000 loan over 10 years at SBA's maximum rate for that size, 13.00% today, costs $2,239.66 a month and $118,759 in interest. The rate cap comes from 13 CFR 120.214(d).
Canonical page: https://www.sbaexpress.loans/tools/business-loan-payment/
Last checked: 2026-11-09
## How this is computed
The payment is the level amount that takes the balance to zero on the last due date. Divide the annual rate by 12 to get the monthly rate `r`. Count the months `n`. Then:
```
payment = loan x r / (1 - (1 + r)^-n)
```
Total interest is the payment times the months, minus the loan. The yearly schedule applies the monthly rate to the falling balance.
The APR line uses the actuarial method in [Regulation Z, Appendix J](https://www.consumerfinance.gov/rules-policy/regulations/1026/j/). It finds the monthly rate at which the payments are worth the loan minus the fee, then multiplies by 12. With no fee, the APR equals the rate.
The SBA maximum line is Prime plus 3.0 to 6.5 percentage points, depending on loan size ([13 CFR 120.214(d)](https://www.ecfr.gov/current/title-13/section-120.214)). We read Prime live from the Federal Reserve's DPRIME series. It is a ceiling on variable rates, not a quote.
## A worked example
Take a $150,000 loan repaid over 120 months. SBA's maximum rate at that size is Prime plus 6.0 percentage points (13 CFR 120.214(d)). WSJ Prime is 7.00% as of Nov 10, 2026, so the maximum is 13.00%. These figures are an illustration, not a quote.
The fee in this example is the FY2027 upfront guaranty fee on a $150,000 SBA Express loan. It is 2% of the guaranteed portion. SBA guarantees 50% of an SBA Express loan (SBA Information Notice 5000-881797; SOP 50 10 8.1, App. 16). The lender pays the fee and may pass it to you.
The fee lifts the APR above the rate. You receive less cash, but you repay the same payments.
**$150,000 over 120 months at SBA's maximum rate**
| Item | Amount |
| --- | --- |
| Monthly payment | $2,239.66 |
| Total of payments | $268,759 |
| Total interest | $118,759 |
| Upfront fee | $1,500 |
| APR with that fee | 13.26% |
What this leaves out
Interest-only periods, prepayment and rate changes. A variable-rate payment moves when the rate moves, and SBA allows rate changes no more often than monthly (13 CFR 120.214(a)). Your note controls.
## Common questions
### Does the payment include upfront fees?
No. The payment covers principal and interest. Upfront fees change the APR line, because you receive less cash and repay the same payments.
### Can I use this for a loan that is not an SBA loan?
Yes. It works for any fully amortizing loan with level payments. Enter the rate your lender quoted. The SBA maximum line is there for comparison.
### What term should I enter for an SBA loan?
Enter the term your lender quotes. SBA's maximums come from SOP 50 10 8.1, App. 17, Para. A:
- Working capital: 10 years.
- Equipment: 10 years, or up to 15 years if the IRS asset class useful life supports it.
- Real estate: 25 years, plus any reasonable construction or renovation period.
The same paragraph says the term must be the shortest appropriate term based on the use of proceeds and the borrower's ability to repay.
### Can this model a balloon or interest-only loan?
No. It assumes level payments down to zero. SBA does not allow balloon payments (SOP 50 10 8.1, App. 18, Para. A.1). [Read the balloon rule](https://www.sbaexpress.loans/answers/sba-loan-balloon-payment/).
## Put this calculator on your site
Paste this code into any page. It shows the calculator in a frame with no site header. Replace YOUR-NAME with a short name for your organization. The name travels with any visitor who moves to the next step. The height fits a laptop column. On a phone the frame scrolls inside itself, so raise the height if your page is narrow.
```
Business loan payment calculator from SBA Express Loans
```
## Sources
- [Regulation Z, Appendix J, annual percentage rate computations (read November 9, 2026)](https://www.consumerfinance.gov/rules-policy/regulations/1026/j/)
- [13 CFR 120.214, variable interest rates](https://www.ecfr.gov/current/title-13/section-120.214)
- [WSJ Prime Rate, Federal Reserve series DPRIME via FRED](https://fred.stlouisfed.org/series/DPRIME)
- [SBA Information Notice 5000-881797, FY2027 7(a) fees](https://legacy.sba.gov/document/information-notice-5000-881797-fy-2027-7a-program-fees)
- [SOP 50 10 8.1, effective October 1, 2026](https://legacy.sba.gov/sites/default/files/2026-10/SOP%2050%2010%208.1%20Technical%20Policy%20Updates%20effective%20%2010.1.2026.docx)