SBA Loan worksheet

1. Combined monthly payment: $9,442.38

1. Split the project into the bank's share, the CDC's share and your own down payment

   $\mathrm{\$1,300,000.00}-\mathrm{\$650,000.00}-\mathrm{\$520,000.00}$$=\mathrm{\$130,000.00}$

2. Find the SBA guaranty fee: 0.5% of the CDC's share for FY 2027

   $\mathrm{\$520,000.00}\times \mathrm{0.5\%}$$=\mathrm{\$2,600.00}$

3. Add the fees to the CDC's share, since they can be financed

   $\mathrm{\$520,000.00}+\mathrm{\$2,600.00}+\mathrm{\$13,000.00}$$=\mathrm{\$535,600.00}$

4. Find the monthly payment on the bank loan. A standard formula finds the one amount that clears the loan in 240 months, where the monthly rate is the yearly rate ÷ 12

   $\frac{\mathrm{\$650,000.00}\times 0.0075}{1-{\left(1+0.0075\right)}^{\mathrm{-240}}}$$=\mathrm{\$5,848.22}$

5. Find the monthly payment on the CDC loan. A standard formula finds the one amount that clears the loan in 240 months, where the monthly rate is the yearly rate ÷ 12

   $\frac{\mathrm{\$535,600.00}\times 0.00433333}{1-{\left(1+0.00433333\right)}^{\mathrm{-240}}}$$=\mathrm{\$3,594.17}$

6. Add the two payments to get what you pay each month

   $\mathrm{\$5,848.22}+\mathrm{\$3,594.17}$$=\mathrm{\$9,442.38}$

2. Combined monthly payment: $8,396.09

1. Split the project into the bank's share, the CDC's share and your own down payment

   $\mathrm{\$900,000.00}-\mathrm{\$450,000.00}-\mathrm{\$360,000.00}$$=\mathrm{\$90,000.00}$

2. Find the SBA guaranty fee: 0.5% of the CDC's share for FY 2027

   $\mathrm{\$360,000.00}\times \mathrm{0.5\%}$$=\mathrm{\$1,800.00}$

3. Add the fees to the CDC's share, since they can be financed

   $\mathrm{\$360,000.00}+\mathrm{\$1,800.00}+\mathrm{\$10,800.00}$$=\mathrm{\$372,600.00}$

4. Find the monthly payment on the bank loan. A standard formula finds the one amount that clears the loan in 300 months, where the monthly rate is the yearly rate ÷ 12

   $\frac{\mathrm{\$450,000.00}\times 0.0075}{1-{\left(1+0.0075\right)}^{\mathrm{-300}}}$$=\mathrm{\$3,776.38}$

5. Find the monthly payment on the CDC loan. A standard formula finds the one amount that clears the loan in 120 months, where the monthly rate is the yearly rate ÷ 12

   $\frac{\mathrm{\$372,600.00}\times 0.00708333}{1-{\left(1+0.00708333\right)}^{\mathrm{-120}}}$$=\mathrm{\$4,619.71}$

6. Add the two payments to get what you pay each month

   $\mathrm{\$3,776.38}+\mathrm{\$4,619.71}$$=\mathrm{\$8,396.09}$

3. Monthly payment: $4,669.54

1. Find the part SBA guarantees. It's up to 75% for a loan this size. That's the part the fee is charged on

   $\mathrm{\$375,000.00}\times \mathrm{75\%}$$=\mathrm{\$281,250.00}$

2. Find the FY 2027 guaranty fee. The rule here is 3% for a loan of $150,001 to $700,000

   $\text{\hspace{0.17em}fee on}\mathrm{\$281,250.00}$$=\mathrm{\$8,437.50}$

3. Find the monthly payment. A standard formula finds the one amount that clears the loan in 120 months, where the monthly rate is the yearly rate ÷ 12

   $\frac{\mathrm{\$375,000.00}\times 0.00716667}{1-{\left(1+0.00716667\right)}^{\mathrm{-120}}}$$=\mathrm{\$4,669.54}$

4. Find the total interest: all the payments added up, minus the loan

   $\mathrm{\$4,669.54}\times 120-\mathrm{\$375,000.00}$$=\mathrm{\$185,345.20}$

5. If the fee comes out of the loan, this is the cash you have left to use

   $\mathrm{\$375,000.00}-\mathrm{\$8,437.50}$$=\mathrm{\$366,562.50}$

4. Combined monthly payment: $9,262.06

1. Split the project into the bank's share, the CDC's share and your own down payment

   $\mathrm{\$1,000,000.00}-\mathrm{\$500,000.00}-\mathrm{\$400,000.00}$$=\mathrm{\$100,000.00}$

2. Find the SBA guaranty fee: 0.5% of the CDC's share for FY 2027

   $\mathrm{\$400,000.00}\times \mathrm{0.5\%}$$=\mathrm{\$2,000.00}$

3. Add the fees to the CDC's share, since they can be financed

   $\mathrm{\$400,000.00}+\mathrm{\$2,000.00}+\mathrm{\$10,000.00}$$=\mathrm{\$412,000.00}$

4. Find the monthly payment on the bank loan. A standard formula finds the one amount that clears the loan in 120 months, where the monthly rate is the yearly rate ÷ 12

   $\frac{\mathrm{\$500,000.00}\times 0.00833333}{1-{\left(1+0.00833333\right)}^{\mathrm{-120}}}$$=\mathrm{\$6,607.54}$

5. Find the monthly payment on the CDC loan. A standard formula finds the one amount that clears the loan in 300 months, where the monthly rate is the yearly rate ÷ 12

   $\frac{\mathrm{\$412,000.00}\times 0.005}{1-{\left(1+0.005\right)}^{\mathrm{-300}}}$$=\mathrm{\$2,654.52}$

6. Add the two payments to get what you pay each month

   $\mathrm{\$6,607.54}+\mathrm{\$2,654.52}$$=\mathrm{\$9,262.06}$

5. Combined monthly payment: $9,036.40

1. Split the project into the bank's share, the CDC's share and your own down payment

   $\mathrm{\$1,100,000.00}-\mathrm{\$550,000.00}-\mathrm{\$440,000.00}$$=\mathrm{\$110,000.00}$

2. SBA waives the 504 guaranty fee for your type of business in FY 2027, so it's $0

   $\mathrm{\$440,000.00}\times \mathrm{0\%}$$=\mathrm{\$0.00}$

3. Add the fees to the CDC's share, since they can be financed

   $\mathrm{\$440,000.00}+\mathrm{\$0.00}+\mathrm{\$8,800.00}$$=\mathrm{\$448,800.00}$

4. Find the monthly payment on the bank loan. A standard formula finds the one amount that clears the loan in 240 months, where the monthly rate is the yearly rate ÷ 12

   $\frac{\mathrm{\$550,000.00}\times 0.005}{1-{\left(1+0.005\right)}^{\mathrm{-240}}}$$=\mathrm{\$3,940.37}$

5. Find the monthly payment on the CDC loan. A standard formula finds the one amount that clears the loan in 120 months, where the monthly rate is the yearly rate ÷ 12

   $\frac{\mathrm{\$448,800.00}\times 0.00541667}{1-{\left(1+0.00541667\right)}^{\mathrm{-120}}}$$=\mathrm{\$5,096.03}$

6. Add the two payments to get what you pay each month

   $\mathrm{\$3,940.37}+\mathrm{\$5,096.03}$$=\mathrm{\$9,036.40}$

6. Monthly payment: $7,126.42

1. Find the part SBA guarantees. It's up to 75% for a loan this size. That's the part the fee is charged on

   $\mathrm{\$450,000.00}\times \mathrm{75\%}$$=\mathrm{\$337,500.00}$

2. Find the FY 2027 guaranty fee. The rule here is 3% for a loan of $150,001 to $700,000

   $\text{\hspace{0.17em}fee on}\mathrm{\$337,500.00}$$=\mathrm{\$10,125.00}$

3. Find the monthly payment. A standard formula finds the one amount that clears the loan in 84 months, where the monthly rate is the yearly rate ÷ 12

   $\frac{\mathrm{\$450,000.00}\times 0.00708333}{1-{\left(1+0.00708333\right)}^{\mathrm{-84}}}$$=\mathrm{\$7,126.42}$

4. Find the total interest: all the payments added up, minus the loan

   $\mathrm{\$7,126.42}\times 84-\mathrm{\$450,000.00}$$=\mathrm{\$148,619.15}$

5. If the fee comes out of the loan, this is the cash you have left to use

   $\mathrm{\$450,000.00}-\mathrm{\$10,125.00}$$=\mathrm{\$439,875.00}$

7. Monthly payment: $4,316.33

1. Find the part SBA guarantees. It's up to 75% for a loan this size. That's the part the fee is charged on

   $\mathrm{\$475,000.00}\times \mathrm{75\%}$$=\mathrm{\$356,250.00}$

2. Find the FY 2027 guaranty fee. The rule here is 0% for an eligible loan of $700,000 or less

   $\text{\hspace{0.17em}fee on}\mathrm{\$356,250.00}$$=\mathrm{\$0.00}$

3. Find the monthly payment. A standard formula finds the one amount that clears the loan in 300 months, where the monthly rate is the yearly rate ÷ 12

   $\frac{\mathrm{\$475,000.00}\times 0.00833333}{1-{\left(1+0.00833333\right)}^{\mathrm{-300}}}$$=\mathrm{\$4,316.33}$

4. Find the total interest: all the payments added up, minus the loan

   $\mathrm{\$4,316.33}\times 300-\mathrm{\$475,000.00}$$=\mathrm{\$819,898.56}$

5. If the fee comes out of the loan, this is the cash you have left to use

   $\mathrm{\$475,000.00}-\mathrm{\$0.00}$$=\mathrm{\$475,000.00}$

8. Combined monthly payment: $9,524.67

1. Split the project into the bank's share, the CDC's share and your own down payment

   $\mathrm{\$900,000.00}-\mathrm{\$450,000.00}-\mathrm{\$360,000.00}$$=\mathrm{\$90,000.00}$

2. Find the SBA guaranty fee: 0.5% of the CDC's share for FY 2027

   $\mathrm{\$360,000.00}\times \mathrm{0.5\%}$$=\mathrm{\$1,800.00}$

3. Add the fees to the CDC's share, since they can be financed

   $\mathrm{\$360,000.00}+\mathrm{\$1,800.00}+\mathrm{\$7,200.00}$$=\mathrm{\$369,000.00}$

4. Find the monthly payment on the bank loan. A standard formula finds the one amount that clears the loan in 120 months, where the monthly rate is the yearly rate ÷ 12

   $\frac{\mathrm{\$450,000.00}\times 0.0075}{1-{\left(1+0.0075\right)}^{\mathrm{-120}}}$$=\mathrm{\$5,700.41}$

5. Find the monthly payment on the CDC loan. A standard formula finds the one amount that clears the loan in 120 months, where the monthly rate is the yearly rate ÷ 12

   $\frac{\mathrm{\$369,000.00}\times 0.00375}{1-{\left(1+0.00375\right)}^{\mathrm{-120}}}$$=\mathrm{\$3,824.26}$

6. Add the two payments to get what you pay each month

   $\mathrm{\$5,700.41}+\mathrm{\$3,824.26}$$=\mathrm{\$9,524.67}$

9. Combined monthly payment: $10,339.96

1. Split the project into the bank's share, the CDC's share and your own down payment

   $\mathrm{\$1,275,000.00}-\mathrm{\$637,500.00}-\mathrm{\$510,000.00}$$=\mathrm{\$127,500.00}$

2. Find the SBA guaranty fee: 0.5% of the CDC's share for FY 2027

   $\mathrm{\$510,000.00}\times \mathrm{0.5\%}$$=\mathrm{\$2,550.00}$

3. Add the fees to the CDC's share, since they can be financed

   $\mathrm{\$510,000.00}+\mathrm{\$2,550.00}+\mathrm{\$12,750.00}$$=\mathrm{\$525,300.00}$

4. Find the monthly payment on the bank loan. A standard formula finds the one amount that clears the loan in 120 months, where the monthly rate is the yearly rate ÷ 12

   $\frac{\mathrm{\$637,500.00}\times 0.00625}{1-{\left(1+0.00625\right)}^{\mathrm{-120}}}$$=\mathrm{\$7,567.24}$

5. Find the monthly payment on the CDC loan. A standard formula finds the one amount that clears the loan in 300 months, where the monthly rate is the yearly rate ÷ 12

   $\frac{\mathrm{\$525,300.00}\times 0.00333333}{1-{\left(1+0.00333333\right)}^{\mathrm{-300}}}$$=\mathrm{\$2,772.73}$

6. Add the two payments to get what you pay each month

   $\mathrm{\$7,567.24}+\mathrm{\$2,772.73}$$=\mathrm{\$10,339.96}$

10. Monthly payment: $8,096.10

1. Find the part SBA guarantees. It's up to 75% for a loan this size. That's the part the fee is charged on

   $\mathrm{\$600,000.00}\times \mathrm{75\%}$$=\mathrm{\$450,000.00}$

2. Find the FY 2027 guaranty fee. The rule here is 3% for a loan of $150,001 to $700,000

   $\text{\hspace{0.17em}fee on}\mathrm{\$450,000.00}$$=\mathrm{\$13,500.00}$

3. Find the monthly payment. A standard formula finds the one amount that clears the loan in 120 months, where the monthly rate is the yearly rate ÷ 12

   $\frac{\mathrm{\$600,000.00}\times 0.00875}{1-{\left(1+0.00875\right)}^{\mathrm{-120}}}$$=\mathrm{\$8,096.10}$

4. Find the total interest: all the payments added up, minus the loan

   $\mathrm{\$8,096.10}\times 120-\mathrm{\$600,000.00}$$=\mathrm{\$371,531.98}$

5. If the fee comes out of the loan, this is the cash you have left to use

   $\mathrm{\$600,000.00}-\mathrm{\$13,500.00}$$=\mathrm{\$586,500.00}$