Model different loan amounts, rates, and terms before you apply. See your estimated monthly payment, total cost, and full amortization schedule instantly. Clyde, NJ 08873.
*Estimate only. Actual rate depends on business financials. Checking rate has no credit impact.
Displaying first 12 months plus the final payment
| Month | Payment Amount | Principal Amount | Interest Amount | 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.
This represents the full borrowing cost. By opting for shorter loan durations and minimizing amounts borrowed, you can lower total interest paid. Play around with the sliders for the best balance between manageable payments and reduced expenses.
Understand how each installment is allocated towards principal and interest. Initial payments are primarily for interest, while payments made later in the term significantly reduce principal.
Illustrative monthly payments for typical loan amounts and interest rate scenarios (over a 60-month period)
| Amount of Loan | Rate Option A | Rate Option B | Rate Option C | Rate Option D | Rate Option 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 monthly payment that aligns with your business's cash flow, then reverse engineer to find how much you can borrow. Most lenders look for a debt service coverage ratio (DSCR) of at least 1.25, indicating that your net income should be 1.25 times greater than your total debt obligations.
Choosing a 36-month loan often incurs less overall interest than a 120-month option, but you'll notice a higher monthly payment. A longer term may ease your monthly obligations but typically escalates total repayment costs. The amortization schedule can help clarify this balance.
While lenders share some fees under the Truth in Lending Act (TILA), keep in mind that certain costs like origination fees, SBA guarantees, or prepayment penalties might not be included in this calculator. It’s wise to assess the overall capital costs when comparing loan offers.
This tool is designed to give you estimates. Once you identify a payment range suitable for your business, it's beneficial to pre-qualify through our platform. This helps you view actual offers from licensed lenders without impacting your credit score thanks to a soft credit inquiry.