Calculate SBA EIDL monthly payments, total interest cost, deferment impact, and estimated eligibility. Compare loan amounts and view amortization.
The Economic Injury Disaster Loan (EIDL) is an SBA loan program designed to provide working capital to small businesses affected by declared disasters. With a fixed 3.75% interest rate for businesses (2.75% for nonprofits) and 30-year terms, EIDLs offer some of the most favorable loan terms available.
Understanding EIDL repayment is critical for cash flow planning. The deferment period (during which interest accrues) increases the total cost. Monthly payments after deferment must be budgeted alongside normal operating expenses. Many businesses that received EIDLs during 2020–2021 are now entering repayment.
This calculator models the complete EIDL repayment scenario including deferment period interest accrual, post-deferment monthly payments, and total cost over the 30-year term. It also estimates maximum eligible loan amounts based on gross profit. The comparison table shows payments at different loan amounts to help you evaluate how much to borrow. Check the example with realistic values before reporting. It is especially useful when the payment start date, accrued deferment interest, and long repayment term need to be seen together in one plan.
EIDL terms are unique — the combination of low fixed rate, long term, and deferment period makes standard loan calculators misleading. This calculator properly accounts for deferred interest accrual and shows the true cost of the loan after deferment ends. That makes it easier to plan cash flow once the repayment phase actually begins.
Deferred Balance = Loan × (1 + Monthly Rate)^Deferment Months. Monthly Payment = Deferred Balance × [r(1+r)^n] / [(1+r)^n − 1]. Max Eligible ≈ Gross Profit × 6 (capped at $2M).
Result: Payment: $725/mo — Deferred interest: $5,600 — Total interest: $108,800
A $150,000 EIDL at 3.75% for 30 years with 12-month deferment results in $5,600 accrued interest during deferment, raising the balance to ~$155,600. Monthly payments of $725 begin after deferment. Total interest over the life of the loan is approximately $108,800.
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The fixed rate is 3.75% for businesses and 2.75% for nonprofits. These rates are set by law and do not vary based on credit score or market conditions. The rate remains fixed for the entire 30-year term.
Payments begin after the deferment period ends. The initial deferment was 12 months from the loan origination date, later extended to 30 months for many borrowers. Interest accrues during deferment and capitalizes into the loan balance.
Yes, there is no prepayment penalty. You can make extra payments at any time to reduce the principal and total interest cost. Making additional payments during the deferment period reduces the interest that accrues.
Contact the SBA immediately to discuss hardship options. Defaulting on an EIDL can result in collection actions, referral to Treasury, and potentially personal liability if you signed a personal guarantee (required for loans over $200,000).
EIDL eligibility is based on economic injury — primarily calculated as 6 months of gross profit (revenue minus cost of goods sold). The maximum was $2 million. Actual approval amounts varied based on financial documentation and SBA review.
No, EIDL is a loan that must be fully repaid. Only the EIDL Advance ($10,000 targeted advance or $1,000 supplemental advance) was a grant that did not require repayment. The main EIDL loan itself is not forgivable.