Business Loan Calculator

How to Use the Business Loan Calculator

Calculating your monthly payment is pretty straightforward. To use the calculator:

• Enter the loan amount, APR, and repayment term length.
• Our calculator will return your estimated monthly payment, the total amount of interest you can expect to pay, and the full cost of repaying your business loan.

From there, you can adjust the sliders to run different scenarios and see how various terms fit into your business’s monthly cash flow.

Business Loan Terms and Explanations

Here are the essential pieces of information you’ll need to enter and notice as outputs on our business loan calculator:

• Amount Seeking: This is the amount you’d like to borrow. The total sum of money borrowed from a lender, after any applicable fees are subtracted.
• Loan Term: How long your business has to repay the loan, in years or months. Business loans can be anywhere from a few months to several years or even longer.
• Annual Percentage Rate (APR): The cost of borrowing expressed as a percentage of the loan amount, including interest rate and fees. Always compare APRs when evaluating loans, as this represents the true cost of borrowing.
• Estimated Monthly Payment: What your business must pay each month toward the loan balance and interest and/or fees. It can give you an idea of how a business term loan might fit with your budget.
• Total Repayment: Total repayment shows the total cost of your loan. This includes the entire principal, interest, and fee amount you’ll pay over time.

What Determines Your Business Loan Costs?

Our business loan calculator does the math for you so you can anticipate the monthly loan payments you would be expected to make if you took out a business term loan. The following components contribute to your monthly payments:

• Business Term Loan Amounts: Business term loans typically range from $5,000 to $2,000,000. The amount you qualify for will depend on your revenue, time in business, and credit history, in addition to other factors.
• Interest Rates: The interest rate is largely based on your credit history. If you have excellent credit, your interest rate can be as low as 9%. If you have some negative marks on your credit history, you can often still qualify for a business term loan, but you’ll likely end up with a higher interest rate.
• Loan Terms: The terms for this type of loan are typically between one and five years.
• Origination Fees: A fee some lenders charge to process your loan application. The origination fee on a term loan is typically about 5%, so you’ll want to factor this in when determining the total cost of your loan. Your origination fee will either be due at signing or rolled into the overall cost of your loan.

What the Business Loan Calculator Does (and Doesn’t) Do

• Estimates are not offers. Calculator outputs are not commitments from lenders.
• Rates and terms vary. Final rates depend on lender policies, your specific business credit profile, and current market conditions.
• Fees are approximations. Lender-specific fees may differ from the estimates shown.

Ready to explore your financing options?

Instead of spending a day googling rates that may or may not apply to you, take a few minutes to find out the exact products and rates your business qualifies for.