Economic Injury Disaster Loan (EIDL) Calculator
Estimate your monthly payment, total interest, and full repayment schedule for a US Small Business Administration Economic Injury Disaster Loan (EIDL) using standard amortisation.
Borrower type
%
years
Fixed monthly instalment for the full loan term
- 1
Monthly interest rate
r = 3.75% ÷ 12 ÷ 100 = 0.003125 - 2
Number of payments
n = 30 × 12 = 360 - 3
Growth factor
(1 + r)ⁿ = 1.003125ⁿ = 3.0748How much one unit grows over the full term at the monthly rate. - 4
Monthly payment
150,000 × 0.003125 × 3.0748 ÷ (3.0748 − 1) = 694.67
How does this calculator work?
An EIDL monthly payment is P × r(1+r)^n / ((1+r)^n−1), where r is the monthly rate and n the number of months. The 2023 SBA fixed rates are 3.75% (businesses) and 2.75% (non-profits), maximum 30 years, up to $2 million. Total interest on a 30-year $150,000 loan at 3.75% is roughly $100,000.
Formula
How this is calculated
The SBA Economic Injury Disaster Loan (EIDL) is a federal disaster-relief loan for small businesses and non-profits that suffer economic harm from a declared disaster (such as COVID-19 or a natural disaster). As of 2023, the maximum loan amount is $2,000,000, with a fixed annual interest rate of 3.75% for small businesses and 2.75% for non-profit organisations, and a maximum term of 30 years — all figures are editable in the calculator to reflect future changes or custom scenarios.
Repayment follows standard amortisation: each monthly payment covers the interest that accrued on the remaining balance plus a portion of principal. Because interest is charged on a declining balance, the share going to interest shrinks every month while the share reducing principal grows. The monthly payment itself stays fixed throughout the term. The calculator uses the standard loan amortisation formula: M = P × r(1+r)^n / ((1+r)^n − 1), where P is the principal, r is the monthly rate (annual rate ÷ 12), and n is the total number of monthly payments.
The balance curve shows how the outstanding loan decreases over time — it falls slowly at first (most of the payment is interest) and accelerates in later years as the principal shrinks. Note: EIDL loans may include a deferral period; during deferral, interest still accrues. Consult the current SBA EIDL programme terms for the exact deferral schedule and eligibility rules — rates and terms shown here are 2023 SBA programme parameters.
Frequently asked questions
As of 2023, the SBA charges 3.75% per year for small businesses and 2.75% per year for non-profit organisations. These are fixed rates set by the SBA and may change for future disaster declarations — always verify with the current SBA programme terms.
SBA EIDL loans generally have no prepayment penalty. You can make additional principal payments at any time to reduce total interest and shorten the effective term.
EIDL is a direct SBA disaster loan at fixed, below-market rates with a maximum 30-year term. SBA 7(a) loans are made through private lenders with SBA guarantees, have variable or fixed market-based rates, and are used for general business purposes rather than disaster recovery.
Also known as
TG we-Calculate Editorial Team. (2026). Economic Injury Disaster Loan (EIDL) Calculator [Online calculator]. TG we-Calculate. https://we-calculate.com/calculator/economic-injury-disaster-loan-calculator
TG we-Calculate Editorial Team. "Economic Injury Disaster Loan (EIDL) Calculator." TG we-Calculate. 2026. https://we-calculate.com/calculator/economic-injury-disaster-loan-calculator.
TG we-Calculate Editorial Team, "Economic Injury Disaster Loan (EIDL) Calculator," TG we-Calculate, 2026. [Online]. Available: https://we-calculate.com/calculator/economic-injury-disaster-loan-calculator
@misc{wecalculate_economic_injury_disaster_loan_calculator, title = {Economic Injury Disaster Loan (EIDL) Calculator}, author = {{TG we-Calculate Editorial Team}}, howpublished = {\url{https://we-calculate.com/calculator/economic-injury-disaster-loan-calculator}}, year = {2026}, note = {TG we-Calculate} }
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