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Should you refinance?
Watch two numbers, not one. A refinance can lower your payment and still cost you more overall — which is fine, if you meant to do it.
Guaranty fee on the new loan, plus closing. Rolled into the balance.
Before and after
Watch the two numbers separately. A refinance that lowers your monthly payment while raising the total cost is not automatically wrong — buying breathing room is a legitimate reason — but you should know that is the trade you are making rather than discovering it later.
Two things to check first
Whether your current loan carries a prepayment penalty — on a term of 15 years or more inside the first three, it will. And whether the new lender will actually take it: SBA has specific rules about refinancing existing SBA debt, and the general test is that the new deal must be meaningfully better for you.