EIDL Loan Payment Calculator
Calculate your SBA EIDL monthly payment including the 30-month deferral period. See accrued interest, total cost, and how much you can save with extra payments.
Loan Details
EIDL max was $2,000,000. Original amount, not current balance.
3.75% for businesses, 2.75% for nonprofits.
Standard EIDL COVID deferral was 30 months.
No prepayment penalty. Extra goes directly to principal.
EIDL Quick Facts
- 3.9 million businesses received EIDL loans — payments will continue through 2050+.
- Interest accrued during deferral is added to your balance, making early payments more valuable.
- No prepayment penalty — even $50/month extra can save thousands in interest.
Your EIDL Payment
Original Loan
$150,000
After Deferral
$164,063
Deferral Period Impact
Loan Summary
Important Note
This calculator provides estimates based on standard amortization. Your actual SBA statement may differ slightly due to exact disbursement date, daily interest accrual method, and payment posting. Always verify with your SBA account portal.
What Is an EIDL Loan?
The Economic Injury Disaster Loan (EIDL) program was administered by the U.S. Small Business Administration (SBA) to provide economic relief to businesses suffering revenue losses due to COVID-19 and other declared disasters. Between 2020 and 2022, approximately 3.9 million businesses received EIDL loans totaling over $390 billion, making it one of the largest federal lending programs in U.S. history.
EIDL loans carry favorable terms: a fixed interest rate of 3.75% for businesses (2.75% for nonprofits), a 30-year repayment period, and no prepayment penalty. The maximum loan amount was increased to $2 million during the pandemic. An initial deferral period of 30 months meant that many borrowers did not begin making payments until 2023 or later.
Understanding your EIDL payment structure is critical because interest continues to accrue during the deferral period. Many borrowers are surprised to find their balance has grown by 10-15% before the first payment is due. This calculator accounts for that deferral interest, showing you the true cost of your loan and how extra payments can significantly reduce total interest paid.
How to Calculate EIDL Loan Payments
Calculating EIDL payments requires two steps: first compute the interest accrued during deferral, then calculate the amortized monthly payment on the new balance.
Step 1: Deferral Interest
Deferral Interest = Principal × Annual Rate × (Deferral Months ÷ 12)
Adjusted Balance = Principal + Deferral Interest
Step 2: Monthly Payment
M = P × [r(1+r)^n] ÷ [(1+r)^n − 1]
Where P = adjusted balance, r = monthly rate, n = remaining months after deferral.
For a $150,000 EIDL at 3.75% with 30-month deferral: Deferral interest = $150,000 × 0.0375 × 2.5 = $14,063. Adjusted balance = $164,063. Remaining term = 330 months. Monthly payment = $164,063 × [0.003125 × 1.003125^330] ÷ [1.003125^330 − 1] = approximately $867.
The key insight many borrowers miss: without the deferral, monthly payment on $150,000 would be about $694. The 30-month deferral adds $14,063 to the balance and increases the monthly payment by roughly $173, with total interest over the life of the loan increasing by approximately $43,000.
Worked Examples
Example 1: $50,000 EIDL (Small Business)
Loan: $50,000, Rate: 3.75%, Term: 30 years, Deferral: 30 months. Deferral interest: $50,000 × 3.75% × 2.5 = $4,688. Adjusted balance: $54,688. Monthly payment: $289. Total interest over life: $50,000+. With $50/month extra payment: saves $10,200 in interest and pays off 7 years earlier.
Example 2: $500,000 EIDL (Mid-Size Business)
Loan: $500,000, Rate: 3.75%, Term: 30 years, Deferral: 30 months. Deferral interest: $500,000 × 3.75% × 2.5 = $46,875. Adjusted balance: $546,875. Monthly payment: $2,891. Total interest: $505,000+. With $500/month extra: saves $86,000+ in interest and pays off 8 years earlier.
Example 3: $150,000 Nonprofit EIDL (Lower Rate)
Loan: $150,000, Rate: 2.75%, Term: 30 years, Deferral: 30 months. Deferral interest: $150,000 × 2.75% × 2.5 = $10,313. Adjusted balance: $160,313. Monthly payment: $654. The lower rate saves approximately $70/month compared to the 3.75% business rate on the same principal.
EIDL Loan Terms Summary
| Feature | Business EIDL | Nonprofit EIDL |
|---|---|---|
| Interest Rate | 3.75% fixed | 2.75% fixed |
| Loan Term | 30 years | 30 years |
| Maximum Amount | $2,000,000 | $2,000,000 |
| Deferral Period | 30 months | 30 months |
| Prepayment Penalty | None | None |
| Collateral Required | Over $25,000 | Over $25,000 |
| Personal Guarantee | Over $200,000 | Over $200,000 |
| First Payment Due | 30 months after disbursement | 30 months after disbursement |
When to Use This Calculator
- Payment planning: Know your exact monthly payment before the deferral ends to budget cash flow accurately.
- Deferral impact assessment: See how much interest accrued during the 30-month deferral and how it increased your balance.
- Extra payment modeling: Calculate exactly how much interest you save by paying $50, $100, or $500 extra per month.
- Refinancing comparison: Compare EIDL terms against commercial refinancing offers to decide if refinancing makes sense.
- Tax planning: Estimate annual interest paid for tax deduction planning purposes.
EIDL Early Payoff Strategy
Start extra payments immediately
Even during deferral, you could have made voluntary payments. If you haven't started yet, begin now — every dollar of extra payment goes directly to principal reduction.
Target the interest accrued during deferral first
The deferral interest is now part of your balance and generating its own interest. Eliminating this "interest on interest" early has the highest return.
Set up biweekly payments
Paying half your monthly amount every two weeks results in 26 half-payments (13 full payments) per year instead of 12. That's one extra payment per year with minimal budget impact.
Apply windfalls to principal
Tax refunds, bonus income, or seasonal revenue spikes can make meaningful dents in principal. A single $5,000 lump payment on a $150,000 EIDL saves approximately $6,500+ in interest.
Don't refinance unless the math clearly works
At 3.75% fixed for 30 years, EIDL terms are extremely favorable. Most commercial loans carry 7-10%+ rates. Only consider refinancing if you can get a significantly lower rate AND shorter term.
Frequently Asked Questions
About This Calculator
Free EIDL loan payment calculator with deferral period handling. Compute monthly payments, accrued interest during deferral, and early payoff savings for SBA disaster loans.
Frequently Asked Questions
How do I use the EIDL Loan Payment Calculator?
Enter your values in the input fields provided, and the calculator will automatically compute results in real-time. Start with the required fields (marked with labels), then adjust optional parameters to fine-tune your calculation. Results update instantly as you change inputs, allowing you to quickly compare different scenarios. For the most accurate results, use precise figures from official documents rather than rough estimates. If you are unsure about any input, hover over the field label for a brief explanation of what value to enter.
How accurate are the results from the EIDL Loan Payment Calculator?
This calculator uses standard industry formulas and up-to-date 2025 data to provide reliable estimates. Results are most accurate when you input precise, verified figures. Keep in mind that calculators provide estimates based on mathematical models — real-world outcomes may vary due to factors not captured in the inputs, such as market changes, policy updates, or individual circumstances. For high-stakes decisions, use these results as a starting point and consult with a relevant professional (financial advisor, doctor, engineer, etc.) for personalized guidance.
Can I save or share my EIDL Loan Payment Calculator results?
You can bookmark this page or take a screenshot of your results for future reference. To share results with others, copy the page URL — your specific inputs are not stored in the URL for privacy reasons, so the recipient will need to enter their own values. For record-keeping purposes, we recommend noting your inputs and results in a spreadsheet or document. This allows you to track changes over time and compare different scenarios side by side.
What formulas does the EIDL Loan Payment Calculator use?
This calculator uses industry-standard formulas that are widely accepted by professionals in this field. The specific mathematical relationships and constants are based on peer-reviewed research, government guidelines, or established industry practices. Where applicable, we reference the source methodology in the educational content below the calculator. If you need to verify a specific formula for professional or academic purposes, the calculation methodology section provides detailed breakdowns of each step.
Is the EIDL Loan Payment Calculator free to use?
Yes, this calculator is completely free with no registration required. We believe financial and analytical tools should be accessible to everyone. There are no hidden fees, premium features locked behind paywalls, or data collection requirements. You can use the calculator as many times as needed, compare unlimited scenarios, and access all features without creating an account. The tool runs entirely in your browser — your inputs are never sent to our servers or stored anywhere.