Estimate a payment
See what a fixed-rate business term loan would cost each month and over its life. Estimates for planning, not offers.
Estimated monthly payment
$1,631
- Total paid
- $97,841
- Total interest
- $22,841
Assumes equal monthly payments at a fixed rate, with no fees. Lines of credit and working-capital advances are priced differently.
Request optionsFull amortization schedule (60 payments)
| Payment | Principal | Interest | Balance after |
|---|---|---|---|
| 1 | $943.18 | $687.50 | $74,056.82 |
| 2 | $951.83 | $678.85 | $73,104.99 |
| 3 | $960.55 | $670.13 | $72,144.44 |
| 4 | $969.36 | $661.32 | $71,175.08 |
| 5 | $978.24 | $652.44 | $70,196.84 |
| 6 | $987.21 | $643.47 | $69,209.63 |
| 7 | $996.26 | $634.42 | $68,213.37 |
| 8 | $1,005.39 | $625.29 | $67,207.97 |
| 9 | $1,014.61 | $616.07 | $66,193.36 |
| 10 | $1,023.91 | $606.77 | $65,169.46 |
| 11 | $1,033.30 | $597.39 | $64,136.16 |
| 12 | $1,042.77 | $587.91 | $63,093.39 |
| 13 | $1,052.33 | $578.36 | $62,041.07 |
| 14 | $1,061.97 | $568.71 | $60,979.10 |
| 15 | $1,071.71 | $558.98 | $59,907.39 |
| 16 | $1,081.53 | $549.15 | $58,825.86 |
| 17 | $1,091.44 | $539.24 | $57,734.41 |
| 18 | $1,101.45 | $529.23 | $56,632.96 |
| 19 | $1,111.55 | $519.14 | $55,521.42 |
| 20 | $1,121.74 | $508.95 | $54,399.68 |
| 21 | $1,132.02 | $498.66 | $53,267.66 |
| 22 | $1,142.39 | $488.29 | $52,125.27 |
| 23 | $1,152.87 | $477.81 | $50,972.40 |
| 24 | $1,163.43 | $467.25 | $49,808.97 |
| 25 | $1,174.10 | $456.58 | $48,634.87 |
| 26 | $1,184.86 | $445.82 | $47,450.01 |
| 27 | $1,195.72 | $434.96 | $46,254.28 |
| 28 | $1,206.68 | $424.00 | $45,047.60 |
| 29 | $1,217.75 | $412.94 | $43,829.85 |
| 30 | $1,228.91 | $401.77 | $42,600.95 |
| 31 | $1,240.17 | $390.51 | $41,360.77 |
| 32 | $1,251.54 | $379.14 | $40,109.23 |
| 33 | $1,263.01 | $367.67 | $38,846.22 |
| 34 | $1,274.59 | $356.09 | $37,571.63 |
| 35 | $1,286.28 | $344.41 | $36,285.35 |
| 36 | $1,298.07 | $332.62 | $34,987.29 |
| 37 | $1,309.96 | $320.72 | $33,677.32 |
| 38 | $1,321.97 | $308.71 | $32,355.35 |
| 39 | $1,334.09 | $296.59 | $31,021.26 |
| 40 | $1,346.32 | $284.36 | $29,674.94 |
| 41 | $1,358.66 | $272.02 | $28,316.27 |
| 42 | $1,371.12 | $259.57 | $26,945.16 |
| 43 | $1,383.68 | $247.00 | $25,561.47 |
| 44 | $1,396.37 | $234.31 | $24,165.11 |
| 45 | $1,409.17 | $221.51 | $22,755.94 |
| 46 | $1,422.09 | $208.60 | $21,333.85 |
| 47 | $1,435.12 | $195.56 | $19,898.73 |
| 48 | $1,448.28 | $182.41 | $18,450.45 |
| 49 | $1,461.55 | $169.13 | $16,988.90 |
| 50 | $1,474.95 | $155.73 | $15,513.95 |
| 51 | $1,488.47 | $142.21 | $14,025.48 |
| 52 | $1,502.11 | $128.57 | $12,523.37 |
| 53 | $1,515.88 | $114.80 | $11,007.48 |
| 54 | $1,529.78 | $100.90 | $9,477.70 |
| 55 | $1,543.80 | $86.88 | $7,933.90 |
| 56 | $1,557.95 | $72.73 | $6,375.94 |
| 57 | $1,572.24 | $58.45 | $4,803.71 |
| 58 | $1,586.65 | $44.03 | $3,217.06 |
| 59 | $1,601.19 | $29.49 | $1,615.87 |
| 60 | $1,615.87 | $14.81 | $0.00 |
Using these numbers
The calculator uses the standard formula for a fixed-rate loan with equal monthly payments: payment = P × r ÷ (1 − (1 + r)−n), where P is the amount, r is the annual rate divided by 12 and n is the number of months. It doesn't include fees, so the true cost of a real offer will be higher. Enter the interest rate from the offer, not the APR: the APR already includes fees, so compare APRs side by side instead.
It fits small business term loans and equipment financing. Lines of credit charge interest only on what you draw, and advances are priced with a factor rate; use the factor rate to APR calculator for those.