Business Loan Calculator
Estimate your monthly interest & payments on a business loan
Whether you’re considering a business loan or are working on paying one off right now, a business loan calculator can be an essential tool.
If you’re considering a business loan, the calculator can help you visualize what your repayment term will look like. It’s one thing to be aware of your APR, but it’s another entirely to see exactly what kind of monthly payment structure that APR translates to. This business loan calculator can help you understand the entirety of what you’ll be paying for throughout your loan term and can highlight factors such as the total interest that will be paid.
Business loan calculators can also help you strategize as you are paying off a pre-existing loan. You can input your current monthly payment and view how much interest you’ll be paying over time and then you can adjust the monthly payment amount to see what will happen if you increase the amount you pay.
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How to Use the Business Loan Payoff Calculator
When you’re ready to use the calculator, you’ll need a few key pieces of information handy:
Your loan amount is the total sum that your lender will be offering you. It’s not necessarily the amount that’s deposited in your account as origination fees would be deducted from that total before the funds get deposited into your bank account.
This is the amount of time you will have to pay your loan back. It’s usually presented to you as a number of months or years that the total amount you’ll need to pay back will be divided by to figure out your monthly payment amount.
You will also need your Annual Percentage Rate to calculate the interest you’ll be paying over time. It’s presented as a percentage and may be known as an interest rate as well. If you are using the calculator before successfully taking out a loan and you only have an estimated rate, use the calculator twice: once with the lower percentage rate and once with the highest. This gives you a realistic idea of the interest you will have to pay.
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Types of Business Loans
There are many types of business loans available, each with different purposes and benefits. These seven business loan types are by far the most common.
Term Loans: The most common type of business loan - you receive a lump sum up front and pay it back over the loan term in installments
SBA Loans: A type of loan that is guaranteed by the Small Business Administration but offered by bankers and other types of standard lenders
Business Line of Credit: With this loan type, you get access to a line of credit and you can borrow what you need when you need it. You’ll only pay interest on the money you actually borrow.
Equipment Loans: Loans specifically designed for businesses who are looking to upgrade their equipment. Loan terms typically equal the expected lifespan of the equipment.
Merchant Cash Advances: You get a lump sum up front but you will have a percentage of your daily or weekly income deducted until the loan is paid back.
Business Credit Cards: Business credit cards function the same way as personal credit cards do and are perfect for businesses who have regular expenses like office supplies, travel, etc. Some business credit cards may offer rewards.
Microloan: As the name suggests, microloans are small business loans (typically under $50,000) that are designed for start-ups and newer businesses.
Commercial Real Estate Loans: Like equipment loans, commercial real estate loans are a type of business loan that is designed for a specific purchase. In this case, the funds you receive from this type of loan are only to be used for real estate transactions.
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Business Loan Types
Amazon Seller Small Business Loans
Business Expansion Loans
Business Acquisition Financing
Business Line of Credit
Business Term Loans
Commercial Real Estate Loans
Construction Business Loans
Contractor Business Loans
Convenience Store Business Loans
eCommerce Business Loans
Heavy Equipment Financing
LLC Business Loans
Long Term Business Loans
Merchant Cash Advances
Minority Business Loans
Purchase Order Financing
Small Business Loans for Women
Startup Business Loans
Working Capital Loans
Agriculture Business Loans
Auto Repair Shop Business Loans
Bakeries & Bake Shops
Beauty Salon Business Loans
Bar Business Loans
Car Wash Businesses
Coffee Shop Financing
Chiropractic Business Loans
Cannabis Business Loans
Daycare Business Loans
Dental Practice Business Loans
Food Truck Business Loans
Franchise Business Financing
Gas Station Business Loans
Gyms & Fitness Centers
Landscaping Business Loans
Law Firm Business Loans
Medical Practice Business Loans
Pharmacy Business Funding
Photography Business Loans
Insurance Agency Business Loans
Restaurant Business Loans
Retail Business Loans
Spa Business Loans
Trucking Business Loans