Calculator
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.
Common questions
Can I refinance business debt with an SBA 7(a) loan?
Often yes — if the original debt was used for SBA-eligible purposes and the refinance gives you a clear benefit (for example a materially lower payment, or replacing debt on unreasonable terms such as a balloon or an MCA). The old debt has to be documented.
Can I refinance one 7(a) loan with another?
Only in limited cases. Refinancing an existing 7(a) with a new 7(a) is generally allowed only when it delivers a substantial benefit and the current lender will not modify the loan. It is not a routine move.
Can SBA refinance a merchant cash advance?
Frequently, yes — swapping a triple-digit-APR advance for a 7(a) is a common reason to refinance. First see what the advance is really costing you.
Read the guide
Want the rules behind this calculator? Refinancing business debt with an SBA loan walks through it in plain English — the SBA requirements, the data, and what lenders actually look for.