Loan Details
$350,000
7.5%
10 yrs
15%
Payment Breakdown
Monthly Payment
$3.5K
Down Payment
$52.5K
Loan Principal
$297.5K
Total Interest
$126.3K
Total Paid
$423.8K
Total Payments
120
Based on standard amortization. Actual SBA terms may vary.
SBA 7(a) QUALIFICATION BASICS
- 680+ credit score typically required
- 10-20% down payment (varies by lender and deal size)
- Business must be profitable with 2-3 years of tax returns
- Debt service coverage ratio (DSCR) of 1.25x or higher preferred
- SBA guarantee fee: 2-3.75% of guaranteed portion
- Approval timeline: 60-90 days typical