How can you make a payment on your SBA loan?


Quick Answer

A person can make a payment on a Small Business Administration loan online or via mail. Automatic draft payments can also be set up that are taken every month from a savings, checking or credit card account.

Continue Reading

Full Answer

In order to pay a small business loan online, the borrower of the loan can use a credit card, debit card or make a payment through a checking account at Pay.gov. This is a site run by the Department of the Treasury, and it accepts payments for a number of federal agencies. Recurring payments, which are taken from the chosen account automatically each month, can also be set up by using this site.

When navigating to the Pay.gov website, there is a form to fill out for the Small Business Administration loan repayment, and users of the site have to register for an account before paying online. Payments are secure and private when made online, and can also be made towards Federal Emergency Management Agency Disaster Loans that were processed through the Small Business Administration.

To pay a small business loan by mail, a personal check and coupon is sent to the Small Business Administration at PO Box 740192, Atlanta, Georgia, 30374. Payments should not be sent to a Servicing Center, as it may delay processing of the payment.

Learn more about Personal Loans

Related Questions