Business Loan Calculator Pro
Calculate your exact loan payments, compare options, and view complete amortization schedules
Loan Summary
Payment Schedule
| Payment # | Date | Payment | Principal | Interest | Balance |
|---|---|---|---|---|---|
| Enter loan details to see payment schedule | |||||
Business Lender Comparison
Different lenders offer varying terms. Here's what you can expect:
| Lender Type | Typical Rates | Loan Amounts | Term Lengths | Speed |
|---|---|---|---|---|
| Traditional Banks | 5-10% | $50k-$5M | 1-25 years | 4-8 weeks |
| Credit Unions | 4.5-9% | $10k-$2M | 1-15 years | 3-6 weeks |
| SBA Lenders | 6-13% | $30k-$5M | 5-25 years | 4-12 weeks |
| Online Lenders | 7-30% | $5k-$500k | 1-5 years | 1-7 days |
Loan Eligibility Estimator
See what loan amounts you might qualify for based on your business financials:
How to Use This Business Loan Calculator
Get the most accurate loan calculations by following these steps:
Step 1: Enter Loan Details
Input your loan amount, interest rate, and term length. Use the sliders for quick adjustments or type exact values.
Step 2: Set Payment Frequency
Choose how often you'll make payments (monthly, quarterly, etc.). This affects your payment amounts and total interest.
Step 3: Analyze Results
Review your payment schedule to see how much goes toward principal vs. interest each period.
Business Loan Comparison Examples
See how different loan terms affect your payments and total costs:
| Scenario | 5-Year Term | 7-Year Term | 10-Year Term |
|---|---|---|---|
| $50,000 at 6% | $966/month ($7,996 interest) | $730/month ($11,320 interest) | $555/month ($16,600 interest) |
| $100,000 at 7% | $1,980/month ($18,800 interest) | $1,509/month ($26,756 interest) | $1,161/month ($39,320 interest) |
| $250,000 at 8% | $5,069/month ($54,140 interest) | $3,892/month ($76,928 interest) | $3,033/month ($113,960 interest) |
Real-World Example: Retail Store Expansion
A retail business borrowing $200,000 at 7.5% interest would pay:
- 5-year term: $4,007/month ($40,420 total interest)
- 7-year term: $3,041/month ($55,444 total interest)
- 10-year term: $2,375/month ($85,000 total interest)
This shows how longer terms reduce monthly payments but increase total interest costs.
Business Loan Calculator FAQs
What's the difference between simple interest and amortized loans?
Simple interest loans calculate interest only on the principal balance. Amortized loans (like most business term loans) calculate interest on the outstanding balance, which includes both principal and accrued interest. Our calculator handles amortized loans, which is what most business loans use.
Can I calculate SBA 7(a) loan payments with this tool?
Absolutely. For SBA 7(a) loans, we recommend these typical parameters:
- Term lengths: 10 years for working capital, 25 years for real estate
- Interest rates: 6.5% to 9.5% (depending on loan size and term)
- Payment frequency: Monthly (standard for SBA loans)
How does compounding frequency affect my loan?
Compounding determines how often interest is calculated on your outstanding balance. More frequent compounding (daily vs. monthly) means slightly higher total interest costs. Common compounding periods:
- Banks: Typically monthly compounding
- Online lenders: Often daily compounding
- SBA loans: Usually monthly compounding
Ready to Apply for a Business Loan?
Get pre-qualified with multiple lenders without affecting your credit score.