Model different loan amounts, rates, and terms before you apply. See your estimated monthly payment, total cost, and full amortization schedule instantly. Metuchen, NJ 08840.
*Estimate only. Actual rate depends on business financials. Checking rate has no credit impact.
Display for Initial 12 Months + Final Payment Details
| Month | Payment Amount | Principal Payment | Interest Payment | Outstanding Balance |
|---|
The fixed amount your business pays each month. Compare this against your monthly cash flow - most lenders look for a debt service coverage ratio (DSCR) of 1.25x or higher.
This represents the full cost of borrowing. Opting for shorter terms or lower rates can help decrease total interest expenses. Utilize the sliders to pinpoint what works best for your budget while minimizing costs.
Understand how your payments are allocated toward principal and interest. Payments at the beginning largely cover interest, while later installments speed up the reduction of the principal amount.
A look at typical monthly payments based on common loan values and various rate scenarios (60-month term)
| Loan Amount Requested | Interest Rate A | Interest Rate B | Interest Rate C | Interest Rate D | Interest Rate E |
|---|---|---|---|---|---|
| $25,000 Loan | $495 Monthly Payment | $531 Monthly Payment | $595 Monthly Payment | $662 Monthly Payment | $733 |
| $50,000 | $990 | $1,062 | $1,190 | $1,324 | $1,465 |
| $100,000 | $1,980 | $2,125 | $2,379 | $2,649 | $2,930 |
| $250,000 | $4,950 | $5,312 | $5,948 | $6,622 | $7,326 |
| $500,000 | $9,901 | $10,624 | $11,895 | $13,244 | $14,651 |
Use the calculator as your benchmark, then pre-qualify to compare real offers from 75+ business lenders with a single soft pull.
Select a monthly payment that aligns with your business's capabilities, and then reverse-engineer to find the loan amount. Lenders usually seek a debt service coverage ratio (DSCR) of 1.25x—this implies that your net operating income should exceed your debt repayments by that factor.
A loan with a 36-month term generally incurs much lower total interest compared to one spanning 120 months, although the monthly payments will be higher. Opting for a longer term decreases monthly obligations but raises the overall cost. Utilizing the amortization schedule can help you understand this balance.
Lenders under the Truth in Lending Act (TILA) disclose a range of fees, but keep in mind that some business loans might involve origination fees, SBA guarantee fees, or prepayment penalties that this calculator does not include. It's essential to evaluate the overall cost of capital when comparing loan options.
While this calculator delivers estimates, once you zero in on a payment range suitable for your business, consider pre-qualifying through our platform. This way, you'll receive real proposals from licensed lenders, and a soft credit inquiry won't impact your credit score.