Business Loan Calculator

Common types include SBA loans (7a, 504), term loans, lines of credit, equipment financing, invoice factoring, merchant cash advances, and microloans. SBA loans offer the best rates but require more documentation.

SBA 7(a) loans typically range from prime rate + 2.75% to prime + 4.75%. Traditional bank loans are 5-12%. Online lenders charge 10-30%+. Your rate depends on credit history, time in business, revenue, and loan type.

SBA loans and bank loans typically require a personal credit score of 680+. Online lenders may approve scores of 550+. Business credit scores (Dun & Bradstreet, Experian Business) also matter for established businesses.

SBA loans are partially guaranteed by the US Small Business Administration, reducing lender risk and allowing better terms for borrowers. The SBA 7(a) program offers up to $5 million for most business purposes at competitive rates.

Use a term loan for specific large purchases (equipment, real estate, expansion) where you know the exact amount needed. Use a line of credit for working capital, managing cash flow gaps, or unpredictable short-term needs.

Typically: 2-3 years of business and personal tax returns, bank statements, financial statements (P&L, balance sheet), business plan, articles of incorporation, and personal financial statement.