The calculator will also show you business loan options based on your credit score.
Business Loan Calculator
Understanding Your Business Loan Calculator Results
Monthly payment: This is the fixed amount that you will repay each month. It includes principal, interest and fees.
Total payments: This is the sum of all payments to be made on the loan, which includes the amount you borrowed plus interest and fees.
Total interest paid: The total interest paid represents what the lender charges you for the loan. If you pay off the loan early, you may be able to save on interest.
APR: This number represents the actual annual cost of the loan and makes it easier to compare apples to apples between products. Some lenders don’t provide an APR and instead give a general interest rate that doesn’t include any fees. The APR for business loans depends on your credit score and your business finances, including annual revenue and time spent in business.
Frequently Asked Questions
Business loans extend up to 10 years or more, but you will likely need to have an established business with strong finances to qualify for such loans.