Business Loan Calculator
Calculate your exact monthly business loan payment, total interest, true APR, and Debt Service Coverage Ratio (DSCR). Compare SBA, bank, and online lender rates � then see a full amortisation schedule.
2024 Business Loan Rates � Major US Lenders
📅 Indicative ranges � updated January 2026| Lender | Type | Min APR | Max APR | Max Amount | Notes |
|---|---|---|---|---|---|
| SBA 7(a) — Major Banks | SBA 7(a) | 10.5% | 13.5% | $5,000,000 | Prime + 2.25–4.75%; government-backed; best terms |
| SBA 504 — CDC | SBA 504 | 6.5% | 7.5% | $5,500,000 | Fixed long-term; equipment & real estate only |
| Bank of America | Business Line | 8.5% | 18.0% | $1,000,000 | Existing BofA business customers preferred |
| Wells Fargo | Term Loan | 8.25% | 17.5% | $500,000 | 2+ years in business; FICO 680+ |
| JPMorgan Chase | Business Loan | 8.75% | 19.0% | $1,000,000 | Revenue $250k+; 2+ years operating |
| US Bank | Quick Loan | 9.0% | 20.0% | $250,000 | Fast approval; 1–2 yr term |
| OnDeck | Term / Line | 29.9% | 97.3% | $250,000 | Fast (same-day); high APR; fair credit OK |
| Kabbage (AmEx) | Line of Credit | 24.0% | 72.0% | $250,000 | Revenue-based; 6-mo min history |
| Fundbox | Line of Credit | 14.0% | 68.0% | $150,000 | Minimum 3 months in business |
| BlueVine | Line of Credit | 15.0% | 80.0% | $250,000 | Invoice factoring also available |
| Credibly | Working Capital | 9.99% | 36.0% | $400,000 | Merchant cash advances available |
| Lendio | Marketplace | 6.0% | 99.0% | $5,000,000 | Matches to 75+ lenders; best for comparison |
Business Loan Formulas & Qualification Metrics
Monthly Payment (Standard Amortisation)
PMT = P � [r(1+r)^n] / [(1+r)^n ? 1]
P = principal, r = monthly rate (APR�12�100), n = term months.
Debt Service Coverage Ratio (DSCR)
DSCR = Net Operating Income � Annual Debt Service
A DSCR of 1.25 means for every $1.25 of NOI, you owe $1.00 in debt payments. Most SBA and bank lenders require DSCR ? 1.25; some require ? 1.5.
| DSCR | Assessment | Approval Likelihood |
|---|---|---|
| ? 1.50 | Excellent | Very High |
| 1.25 � 1.49 | Good | High |
| 1.10 � 1.24 | Marginal | Conditional |
| 1.00 � 1.09 | Borderline | Low |
| < 1.00 | Negative | Decline likely |
SBA 7(a) Key Facts
- Maximum loan: $5,000,000. Maximum guarantee: 85% up to $150k; 75% above $150k.
- Rate: Prime Rate + 2.25�4.75% (variable). Prime rate Jan 2024: 8.50%.
- Guarantee fee: 0.5�3.5% of the guaranteed portion (waived for loans ? $1M through Sept 2024).
- Term: up to 10 years (working capital), 25 years (real estate).
- Requires: 2+ years in business, FICO 650+, no recent defaults or bankruptcies.
