This calculator will compute a loan's monthly payment amount based on the principal amount borrowed, the length of the loan and the annual interest rate. Then, once you have computed the monthly payment, click on the "Create Amortization Schedule" button to create a report you can print out. Note: each time you change one of the loan's variables you will need to recalculate the monthly payment before creating the Amortization Schedule.
Note: Other than decimal points, do not enter any other non-numeric characters (commas, dollar signs, etc.) in the entry boxes. Doing so will cause an error.
Special Instructions for SBA 504 Loans:
NOTE: Because monthly fees are included in the payment amount, the amortization schedule for SBA 504 loans is an estimate and should be used for planning purposes only.
Complete and print the SBA 504 Calculator information.
From this printout, add 'Total One Time Fees' to 'Total GPDI Loan' and round the result up to the nearest $1,000. For example, if 'Total One Time Fees' = $24,300.00 and 'Total GPDI Loan' = $800,000.00, then 24,300 + 800,000 = 824,300 = 825,000 rounded up to the next $1,000. Enter 825000.00 as 'Loan Amount'.
Enter the 'GPDI Loan Rate' as the 'Annual Interest Rate'.
Enter 120 for a 10 year note or 240 for a 20 year note as the 'Term of the Loan in Months'.
'Compounding Interval' is 'Monthly'
Select 'Loan Start Date'
Click 'Compute' and 'Create Amortization Schedule' as you would for any other loan.