Model different loan amounts, rates, and terms before you apply. See your estimated monthly payment, total cost, and full amortization schedule instantly. Spotswood, NJ 08884.
*Estimate only. Actual rate depends on business financials. Checking rate has no credit impact.
Displaying first year + last payment details
| 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.
Understand your overall borrowing costs. By choosing shorter terms and being mindful of rates, you can decrease your total interest. Adjusting the sliders may help you discover the ideal balance between manageable payments and lower costs.
Explore how each payment is allocated to interest and the principal. While initial payments largely contribute to interest, you will notice a bigger impact on principal in later payments.
Typical monthly payments reflecting various loan sizes and potential rates (60-month duration)
| Total Loan Value | Interest Rate A | Interest Rate B | Interest Rate C | Interest Rate D | Interest Rate E |
|---|---|---|---|---|---|
| $25,000 | $495 | $531 | $595 | $662 | $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 payment amount that your business can manage comfortably, which will help you backtrack to find the loan amount you may qualify for. Generally, lenders expect a debt service coverage ratio (DSCR) of around 1.25x, meaning that your net operating income should exceed your total debt payments by 25%.
A shorter loan term, like 36 months, will have considerably lower total interest costs compared to a longer 120-month term, although monthly payments will be higher. While extending the repayment period reduces monthly payments, it increases the overall cost. Reviewing the amortization schedule can clarify this balance.
Lenders reveal various fees under the Truth in Lending Act (TILA), but there may be additional costs like origination fees, SBA guarantee fees, or penalties for early payoff that this calculator doesn't account for. It's wise to evaluate the overall cost of capital when reviewing loan proposals.
This calculator offers only estimates. Once you've identified a comfortable payment range for your business needs, consider pre-qualifying through our marketplace to explore real offers from licensed lenders. A soft credit check will ensure your score remains unaffected.