Loan Comparison Tool

Compare multiple loan options and find the best choice for your needs

Option A

Loan Amount

Annual Interest Rate

Loan Term

years

Origination Fee

Option B

Loan Amount

Annual Interest Rate

Loan Term

years

Origination Fee

Comparison Results

Here's how your loan options stack up side by side

Option A

Monthly Payment
$477.53

📊

APR

8.38%

💰

Total Cost

$28951.74

📈

Total Interest

$3651.74

🏷️

Origination Fee

$300.00

Best Choice

Option B

Monthly Payment
$573.47

📊

APR

10.80%

💰

Total Cost

$28026.57

📈

Total Interest

$2526.57

🏷️

Origination Fee

$500.00

Our Recommendation

Recommendation: Option B - You can save $925.18 over the life of the loan

Payment Schedule Comparison

Side-by-side comparison of payment schedules for both loan options

💡 Scroll horizontally to view all columns on smaller screens

Month	Option A				Option B
Month	Payment ($)	Principal ($)	Interest ($)	Balance ($)	Payment ($)	Principal ($)	Interest ($)	Balance ($)
1	477.53	362.95	114.58	24637.05	573.47	473.47	100.00	24526.53
2	477.53	364.61	112.92	24272.45	573.47	475.36	98.11	24051.17
3	477.53	366.28	111.25	23906.16	573.47	477.27	96.20	23573.90
4	477.53	367.96	109.57	23538.21	573.47	479.17	94.30	23094.73
5	477.53	369.65	107.88	23168.56	573.47	481.09	92.38	22613.63
6	477.53	371.34	106.19	22797.22	573.47	483.02	90.45	22130.62
7	477.53	373.04	104.49	22424.18	573.47	484.95	88.52	21645.67
8	477.53	374.75	102.78	22049.43	573.47	486.89	86.58	21158.78
9	477.53	376.47	101.06	21672.96	573.47	488.84	84.64	20669.95
10	477.53	378.19	99.33	21294.76	573.47	490.79	82.68	20179.16
11	477.53	379.93	97.60	20914.83	573.47	492.75	80.72	19686.41
12	477.53	381.67	95.86	20533.17	573.47	494.72	78.75	19191.68
13	477.53	383.42	94.11	20149.75	573.47	496.70	76.77	18694.98
14	477.53	385.18	92.35	19764.57	573.47	498.69	74.78	18196.29
15	477.53	386.94	90.59	19377.63	573.47	500.68	72.79	17695.60
16	477.53	388.71	88.81	18988.91	573.47	502.69	70.78	17192.91
17	477.53	390.50	87.03	18598.42	573.47	504.70	68.77	16688.22
18	477.53	392.29	85.24	18206.13	573.47	506.72	66.75	16181.50
19	477.53	394.08	83.44	17812.05	573.47	508.74	64.73	15672.75
20	477.53	395.89	81.64	17416.16	573.47	510.78	62.69	15161.98
21	477.53	397.71	79.82	17018.45	573.47	512.82	60.65	14649.15
22	477.53	399.53	78.00	16618.92	573.47	514.87	58.60	14134.28
23	477.53	401.36	76.17	16217.56	573.47	516.93	56.54	13617.35
24	477.53	403.20	74.33	15814.37	573.47	519.00	54.47	13098.35
25	477.53	405.05	72.48	15409.32	573.47	521.08	52.39	12577.27
26	477.53	406.90	70.63	15002.42	573.47	523.16	50.31	12054.11
27	477.53	408.77	68.76	14593.65	573.47	525.25	48.22	11528.85
28	477.53	410.64	66.89	14183.01	573.47	527.35	46.12	11001.50
29	477.53	412.52	65.01	13770.48	573.47	529.46	44.01	10472.04
30	477.53	414.41	63.11	13356.07	573.47	531.58	41.89	9940.45
31	477.53	416.31	61.22	12939.76	573.47	533.71	39.76	9406.74
32	477.53	418.22	59.31	12521.53	573.47	535.84	37.63	8870.90
33	477.53	420.14	57.39	12101.40	573.47	537.99	35.48	8332.92
34	477.53	422.06	55.46	11679.33	573.47	540.14	33.33	7792.78
35	477.53	424.00	53.53	11255.33	573.47	542.30	31.17	7250.48
36	477.53	425.94	51.59	10829.39	573.47	544.47	29.00	6706.01
37	477.53	427.89	49.63	10401.50	573.47	546.65	26.82	6159.36
38	477.53	429.86	47.67	9971.64	573.47	548.83	24.64	5610.53
39	477.53	431.83	45.70	9539.81	573.47	551.03	22.44	5059.50
40	477.53	433.80	43.72	9106.01	573.47	553.23	20.24	4506.27
41	477.53	435.79	41.74	8670.22	573.47	555.45	18.03	3950.83
42	477.53	437.79	39.74	8232.43	573.47	557.67	15.80	3393.16
43	477.53	439.80	37.73	7792.63	573.47	559.90	13.57	2833.26
44	477.53	441.81	35.72	7350.82	573.47	562.14	11.33	2271.12
45	477.53	443.84	33.69	6906.98	573.47	564.39	9.08	1706.74
46	477.53	445.87	31.66	6461.11	573.47	566.64	6.83	1140.10
47	477.53	447.92	29.61	6013.19	573.47	568.91	4.56	571.19
48	477.53	449.97	27.56	5563.22	573.47	571.19	2.28	0.00
49	477.53	452.03	25.50	5111.19	-	-	-	-
50	477.53	454.10	23.43	4657.09	-	-	-	-
51	477.53	456.18	21.34	4200.90	-	-	-	-
52	477.53	458.27	19.25	3742.63	-	-	-	-
53	477.53	460.38	17.15	3282.25	-	-	-	-
54	477.53	462.49	15.04	2819.77	-	-	-	-
55	477.53	464.61	12.92	2355.16	-	-	-	-
56	477.53	466.73	10.79	1888.43	-	-	-	-
57	477.53	468.87	8.66	1419.55	-	-	-	-
58	477.53	471.02	6.51	948.53	-	-	-	-
59	477.53	473.18	4.35	475.35	-	-	-	-
60	477.53	475.35	2.18	0.00	-	-	-	-

SBA Loan Calculator & Comparison Tool

Compare SBA and commercial loan options side by side. See total costs, interest, and payoff timelines to make informed business financing decisions.

How to Compare SBA Loan Options in Minutes

Choosing the right SBA loan is a critical business decision. Our comparison tool empowers you to move beyond guesswork by analyzing multiple loan scenarios side-by-side. Find the most cost-effective option for your business in three simple steps.

Enter Your First Loan Scenario: Input the details for an SBA 7(a), 504, or other business loan—including loan amount, interest rate, loan term (e.g., 10, 20, or 25 years), and any estimated down payment.

Add a Second Loan to Compare: Create a second scenario with different terms. This could be a different loan type, a higher down payment, a different lender's rate, or a shorter term.

Review Your Side-by-Side Analysis: Instantly see a clear comparison of both loans' monthly payments, total interest paid, and total loan cost. Identify which option saves you the most money over time.

SBA Loan Comparison: What to Look For Beyond the Monthly Payment

While the monthly payment is important, it only tells part of the story. A true SBA loan comparison must consider the total cost of borrowing over the entire life of the loan.

Key Factors in Your SBA Loan Comparison:

Interest Rate & Type: SBA loans can have fixed or variable rates. A lower fixed rate often provides more stability, even if the initial monthly payment is slightly higher than a variable rate loan.
Loan Term: A longer term (e.g., 25 years) dramatically lowers your monthly payment but significantly increases the total interest you pay. A shorter term saves on interest but requires higher monthly cash flow.
Down Payment Requirements: SBA loans typically require a down payment (10-20%). A larger down payment reduces the amount you need to finance, lowering both your monthly payment and total interest.
Fees: Don't forget to factor in SBA guarantee fees, packaging fees, and other closing costs, as these add to your overall cost.

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Pro Tip: Use our comparison tool above to see the trade-offs. A loan with a slightly higher monthly payment might have a much lower total cost due to a shorter term or smaller fees. The best choice balances affordable payments with the lowest overall cost to your business.

Frequently Asked Questions

Question 1: What's the difference between an SBA 7(a) loan and a 504 loan?

Answer: This is a key comparison! SBA 7(a) loans are versatile and can be used for working capital, equipment, and real estate. SBA 504 loans are specifically for purchasing major fixed assets like real estate or large equipment. 504 loans often feature longer terms and lower down payments for real estate projects. Use our tool to compare the payments and costs for each type based on your needs.

Question 2: What are the current SBA loan interest rates?

Answer: SBA rates are tied to the Prime Rate and can vary by lender, loan type, and your business's financial health. Rates for 7(a) loans can range from Prime + 2.25% to Prime + 4.25%, while 504 loans often have fixed rates below market averages. Our calculator allows you to input current rates you receive from lenders to see a true cost comparison.

Question 3: Can I use this to compare an SBA loan with a conventional business loan?

Answer: Absolutely. While designed for SBA loans, our tool is perfect for comparing any business loan options. Input the terms of an SBA loan in one column and a conventional bank loan in the other to see which financing structure is more advantageous for your business.

Question 4: Does the calculator include SBA fees and down payment?

Answer: Yes. For an accurate comparison, you can input the down payment amount, which will adjust the financed amount. While we calculate base payments and interest, we recommend adding any significant upfront fees (like the SBA guarantee fee) to your loan amount for a more comprehensive total cost analysis.

Question 5: Is there a calculator for SBA EIDL loans?

Answer: Our comparison tool is excellent for modeling term loan payments, which includes the long-term repayment of SBA EIDL loans. You can input your EIDL loan amount, interest rate (capped at 3.75% for businesses), and the 30-year term to estimate and compare your monthly payments.