Business Loan Calculator: Estimate Your Payments

Use this business loan calculator to estimate your monthly payments and interest based on the loan term and APR.
Steve NicastroOct 8, 2021

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The Paycheck Protection Program officially ended May 31, 2021. Read our PPP page for more information or visit our PPP Loan Forgiveness Guide.

A business loan calculator can help you determine the affordability of a small-business loan before you apply. Enter these key parts of your loan to calculate your monthly payments and total interest costs:

  • Loan amount.

  • Loan term.

  • Estimated annual percentage rate.

You'll also be able to view business loan options based on your credit score.

Business loan calculator

Understanding your business loan calculator results

Monthly payment: This is the fixed amount you’ll repay each month. It includes principal, interest and fees.

Total payments: This is the sum of all the payments to make on the loan, which includes the amount you borrowed, plus interest and fees.

Total interest paid: The total interest paid represents what the lender is charging you for the loan. If you repay the loan early, you may be able to save on interest.

APR: This number represents the true annual cost of the loan and makes it easier to do an apples-to-apples comparison between products. Some lenders do not provide APR and instead give a general interest rate that does not include any fees. APR for business loans depends on your credit score and your business’s finances, including annual revenue and time in business.

Frequently asked questions

Business loans stretch up to 10 years or longer, but you’ll likely need to have an established business with strong finances to qualify for such loans.

Online lenders typically charge business loan rates between 6% to 99% APR. You’ll likely find the lowest rates through SBA 7(a) loans, which are set based on the daily prime rate plus a lender spread.

The difficulty in getting a business loan depends on factors that include where you get the loan, the strength of your credit score and the business’s finances, and whether you’re prepared to apply.