Your credit score has a big impact on your personal finances. Lenders use the score to determine how much you can borrow...
With Lendstart’s business loan calculator, you can figure all of this out – and more – before ever committing to a loan.
Term in months
Interest rate per year
If you’re looking to expand your business, a small business or commercial loan could come in handy. Before applying for one, consider the total cost of the loan with interest and how long it’ll take to repay.
Most business loan calculators require some basic information to estimate what your monthly payments will be. This includes:
Knowing this information can help you successfully budget for the loan. It can also help you determine your borrowing limits.
Some online calculators also ask for other information, such as:
With the business loan calculator, you can map out your strategy for repaying the loan from start to finish. Plus, if you check the amortization schedule, you can get a detailed idea of your monthly schedule leading up to the final payoff date.
If desired, you can also add extra payments to your monthly payments to decrease your total interest and speed up the payback schedule.
|Example A||Example A||Example B||Example C|
|Yearly Interest (APR)||6.00%||6.00%||6.00%|
|Number of Payments (5-year loan)||60||60||60|
|Estimated Monthly Payment||$966.64||$1,933.28||$9,666.40|
|Total Payment + Interest||$57,988.40||$115,996.81||$579,984.05|
Check the amortization schedule to see your monthly payment breakdown and how much goes towards the principal vs. interest. Just be aware that the figures are estimates. The exact figures may vary based on the loan and lender’s terms or other fees.
There are several reasons why you should use a business loan calculator before taking out a loan.