Check out this helpful Business Loan Calculator

Business loan calculator

Jumpstart your dreams with the lowest rates available.

Loan amount ($1000 - $50,000)

Annual Interest Rate %

Loan duration (1 Year - 10 Year)

You could be paying as little as

Monthly

Bi-Weekly
Weekly

*The calculation is based on the information you provide and is for illustrative and general information purposes only. This should not be relied upon as specific financial or other advice.

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Business Loan Calculator

The business loan calculator below allows you to put in details of 2 loans to compare the full cost of each. Compare interest and fees, and calculate the fixed, ongoing and total cost of repaying the loan.

After you’ve entered the details of your loan options, the calculator shows you the cost of monthly repayments and the total amount you’ll pay back in principal and interest. If you decide to compare 2 loans, you’ll see the lender that costs less over the term you choose.

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June 29, 2022
Fact Checked

FAQs about our
Business Loan Calculator

Have a different question? Contact us today.

How can I reduce the cost of my business loan?

You have a few options to lower the cost of your business loan — both in the short and long term.

  • Shorten the loan term. A shorter loan term means there’s less time for debt to add up — but it’ll increase your monthly cost.
  • Prequalify with other lenders. Different lenders use different criteria when coming up with your business loan amount, rates and terms. Prequalifying with a few can help you find a lower-cost loan.
  • Improve your credit. Business lenders typically look at personal over business credit scores, so improving your personal credit score can help you qualify for a lower rate.
  • Pay off other loans on time. Having a lower amount of overall debt and a longer history of on-time repayments can also help reduce costs.
  • Provide collateral. Backing your loan with business assets in addition to a personal guarantee offsets the risk to the lender and can get you a better deal.
How do you use a business loan calculator?

Follow these steps to figure out how much you’ll pay each month and in total over the life of your loan:

  1. Enter the amount your business wants to borrow under Loan amount.
  2. Enter the amount of time your business needs to pay back the loan under Loan terms.
  3. Write the interest rate under Interest rate if your loan has no fees. Or, enter the APR if the lender charges an origination, closing or annual fee.
  4. Click Calculate.
  5. Review your monthly payment and total interest charge.

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