Loan Details
Business Information
Additional Options
Monthly Payment
$2,017.55
Total Interest
$18,553.28
APR
0.00%
Approval Odds
95.00%
Loan Summary
Business Loan Tips
Compare SBA vs Traditional Loans
SBA loans often offer better rates and terms but have longer approval times.
Prepare Financial Documents
Have 2-3 years of tax returns, financial statements, and business plan ready.
Improve Business Credit
Work on business credit score separately from personal credit for better rates.
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Business Loan Resources
Frequently Asked Questions
What is the difference between SBA and traditional business loans?
SBA loans are partially guaranteed by the government, allowing lenders to offer lower rates and longer terms. Traditional loans have faster approval but typically higher rates and shorter terms.
How much can I borrow with a business loan?
Business loan amounts vary by lender and loan type. SBA loans can go up to $5 million, while traditional loans may range from $25,000 to $500,000 or more based on your business qualifications.
What documents do I need for a business loan application?
Typically you need business tax returns (2-3 years), personal tax returns, business financial statements, business plan, bank statements, and legal business documents.
How does my business credit score affect loan approval?
Business credit scores (0-100) significantly impact approval and rates. Scores above 75 are excellent, 60-74 are good, and below 60 may require additional collateral or higher rates.
Important Disclaimer
This business loan calculator provides estimates for educational purposes only. Actual loan terms, rates, and approval decisions depend on your business's financial profile, credit history, cash flow, and lender requirements. Interest rates, fees, and terms can vary significantly between lenders and loan programs. For accurate quotes and personalized advice, consult with qualified business lenders and consider speaking with a financial advisor or SCORE mentor.
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