How to calculate how much your loan will pay you
Posted April 16, 2019 08:37:13For anyone considering a commercial loan or a small business loan, the calculator below will give you a more realistic and useful comparison of interest rates.
The calculator is based on the amount of income you can expect to earn from your new business, and your estimated monthly cost of borrowing for the first 12 months of your business.
It works for anyone, including those in a small-business or a family-owned business.
The calculations below will help you to determine how much you will be able to borrow for your business loan.
If you are planning to open a small commercial or residential business, then this calculator can help you calculate the repayment amount.
If, on the other hand, you are looking to start a small or medium business and would like to compare interest rates on a commercial or small business, this calculator will give a better idea of how much a loan is likely to pay out in the first year.
The Calculator: Loan repayment calculatorThe calculator also calculates the repayment amounts depending on the size of the business.
For example, a $200,000 business would need a repayment of $100,000, or $1,000 per month in interest.
Here are some important things to keep in mind before you start calculating your loan repayment:For small business loans, the interest rate varies based on how much money you earn from the business during the first two years.
For instance, if you earn $100 a month, the repayment rate would be 1.3%.
For commercial loans, it varies based the type of loan you are applying for.
For a small investment, the repayments are based on your income and your expected monthly income over the first three years.
For small commercial loans or small-to-medium business loans with a repayment rate of 1.75% or less, the total repayment amount will be $3,000.
For small- to medium-sized business loans that are repaid at a 3% interest rate, the maximum repayment amount is $12,000 (if you have a maximum monthly income of $250,000).
The calculator can also be used to calculate interest payments for a loan to a business partner or other person who you know and trust.
The interest rates and repayments will also vary depending on how large your business is.
The maximum amount you can borrow will depend on the type and size of your loan.
The calculator can show you how much interest you will pay out.
For more information on commercial loans and small business debt, including credit card and credit card forgiveness options, call 800-924-3222 or visit the Business Finance website.