Business Loan Calculator
Calculate monthly payments and total cost for any business loan.
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Enter the loan amount, interest rate, and term to see your monthly payment and total cost. This calculator uses standard amortization, where each monthly payment covers interest plus a portion of principal.
About Business Loans
Business loans help fund startup costs, equipment purchases, expansion, and working capital. Rates vary widely based on the lender, your credit, and the loan type. SBA loans typically offer the lowest rates (6-13%), while online lenders may charge higher rates for faster approval and less documentation.
Frequently Asked Questions
What is a typical business loan rate?
SBA loans range from about 6-13%. Bank term loans typically run 6-12%. Online lenders may charge 8-30%+ depending on your credit and business history.
How long are business loan terms?
Terms vary by loan type. SBA loans can go up to 25 years for real estate, 10 years for equipment, and 7 years for working capital. Bank and online lender terms are typically 1-10 years.
What affects my business loan rate?
Key factors include your personal and business credit scores, time in business, annual revenue, collateral, and the loan amount. Stronger financials mean lower rates.
Should I choose a shorter or longer term?
Shorter terms have higher monthly payments but lower total interest. Longer terms have lower monthly payments but cost more over time. Match the term to the useful life of what you are financing.