Understanding Your SBA Loan Documents

Before you even think about making a payment, get intimately familiar with your loan documents. This includes the promissory note, which details the loan terms like the principal amount, interest rate, repayment schedule, and due dates. Also, check your loan servicing agreement, which outlines how to make payments and who to contact for assistance. Knowing this information upfront avoids confusion and potential late payment fees.

Locating Your Payment Information

Your loan documents will specify the exact method for making payments. Some SBA loans might require payments through a specific online portal, while others may accept