Model different loan amounts, rates, and terms before you apply. See your estimated monthly payment, total cost, and full amortization schedule instantly. Carteret, NJ 07008.
*Estimate only. Actual rate depends on business financials. Checking rate has no credit impact.
Displaying the first year of payments plus the final amount
| Month | Payment Amount | Principal Amount | Interest Accrued | Remaining 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.
The overall expense of your financing. Choosing shorter terms and lower borrowing amounts can help minimize interest overall. Adjust the sliders to see what fits best for your budget while keeping costs in check.
Understand the division of each payment between interest and principal. Initially, a greater share goes to interest, but as time goes on, more reduces the principal.
Typical monthly payments based on common loan amounts and potential rates (over a 60-month span)
| Loan Amount Options | Interest Rate A | Interest Rate B | Interest Rate C | Interest Rate D | Interest Rate E |
|---|---|---|---|---|---|
| $25,000 Loan | $495 per month | $531 per month | $595 per month | $662 per month | $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.
Identify a monthly payment that aligns with your business's cash flow. Lenders often look for a debt service coverage ratio (DSCR) of 1.25 or higher, indicating that your net operating income should exceed your total debt payments by 25%.
Taking a loan with a shorter term, like 36 months, may decrease total interest paid compared to a longer 120-month term. However, it comes with higher monthly payments. Lengthening the repayment period may lower the monthly burden but will increase the overall cost. Use an amortization schedule to see this balance clearly.
While the Truth in Lending Act (TILA) provides transparency about most fees, certain business loans might entail additional charges such as origination fees, SBA guarantee fees, or prepayment penalties that this calculator does not account for. Always assess the total cost of capital when comparing proposals.
This calculator serves solely for estimating purposes. Once you identify a suitable payment range, consider pre-qualifying through our marketplace to examine real offers from authorized lenders. Remember, the soft credit inquiry will not impact your credit score.