Business loan calculator

A business loan calculator is an important part of determining the best loan for your business. Enter your loan amount, loan term and interest rate to get started. And if you're not sure what rate to expect, browse our list of lenders to submit an application for preapproval — without affecting your personal or business credit score.

Our calculator will return three simple results: Your monthly payment, the total amount of interest you can expect to pay and the full cost of repaying your business loan. This can help you compare your options, from large commercial loans to small startup loans.

Important definitions to know

• Loan amount. How much your business plans on borrowing. Also called the loan principal.
• Loan term. How long your business has to repay the loan, in years.
• Interest rate. The percentage of a loan balance a lender charges in interest, over one year.
• APR. The percentage of the loan balance you’d pay in interest and fees over one year.
• Loan balance. The amount of your loan principal and interest you still need to repay.
• Monthly payment. What your business pays each month toward the loan balance and interest.
• Origination fee. A fee lenders charge after you sign your loan documents, which lenders either add to or subtract from your loan balance. It’s also known as a closing fee.
• Annual fee. A flat fee that lenders charge once a year as long as you’re repaying the loan.

How can I reduce the cost of my business loan?

You have a few options to lower the cost of your loan — both in the short and long term.

• Shorten the loan term. A shorter loan term means there’s less time for debt to add up — but it’ll increase your monthly cost.
• Prequalify with other lenders. Different lenders use different criteria when coming up with your loan amount, rates and terms. Prequalifying with a few can help you find a lower-cost loan.
• Improve your credit. Business lenders typically look at personal over business credit scores, so improving your personal credit score can help you qualify for a lower rate.
• Pay off other loans on time. Having a lower amount of overall debt and a longer history of on-time repayments can also help reduce costs.
• Provide collateral. Backing your loan with business assets in addition to a personal guarantee offsets the risk to the lender and can get you a better deal.

Apply for a small business loan today

See what your business might qualify for by selecting your loan amount, annual revenue, time in business and personal credit score.

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Name	Product	Filter Values	Loan amount	APR	Requirements
Fora Financial business loans Finder Rating: 4.1 / 5: ★★★★★			$5,000 – $500,000	Varies	6+ months in business, $12,000+ monthly revenue, no open bankruptcies	Get qualified for funding in minutes for up to $500,000 without affecting your credit score. Best for companies with at least six figures in annual revenue.	Go to site More Info	Compare	loading Fetching your data…
Lendio business loans Finder Rating: 4.75 / 5: ★★★★★			$500 – $5,000,000	Starting at 6%	Operate business in US or Canada, have a business bank account, 560+ personal credit score	Submit one simple application to potentially get offers from a network of over 300 legit business lenders.	Go to site More Info	Compare	loading Fetching your data…
National Funding business loans Finder Rating: 4.75 / 5: ★★★★★			$5,000 – $500,000	4% to 8%	Be in business at least one year and make at least $150,000 in annual sales. Other loan types have additional requirements.	Working capital loans and equipment financing, some high-risk industries may be eligible.	Go to site More Info	Compare	loading Fetching your data…
Fundbox lines of credit Finder Rating: 4.2 / 5: ★★★★★			$1,000 – $150,000	Not stated	6 + months in business, $100,000+ in annual revenue, 600+ credit score	Get flat rate, short-term financing based on the financial health of your business, not your credit score.	Go to site More Info	Compare	loading Fetching your data…
Bitty Advance business cash advances Finder Rating: 2.8 / 5: ★★★★★			$2,000 – $25,000	Not applicable	$5,000 monthly bank revenue, 6+ months in business, business bank account open 3+ months, 450+ credit score	With APRs in the triple digits, this is best saved as a last resort.	Go to site More Info	Compare	loading Fetching your data…

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Bottom line

Comparing your business loan options is a smart move when you’re looking to start a business or expand into new markets. Take the time to learn more about business loans and view our top picks for small businesses before you commit to a lender.

Frequently asked questions

Our answers to some common questions about business loans.

What is the average interest rate for a small business loan?

The average interest rate for a business loan can run from 4% to over 250% APR, depending on the type of loan. Bank loans tend to have the lowest rates, while merchant cash advances are often the most expensive.

Learn what APR to expect for your loan type by reading our guide to business loan rates.

How much can my business borrow?

You can borrow from under $1,000 to over $5 million — though it depends on the type of lender. Online business loans typically run from around $5,000 to $500,000, while banks and SBA lenders offer larger funding amounts.

Individually, how much your business can borrow depends on factors like revenue, how you plan on using the funds and your loan term.

How long do business loans last?

Business loan terms can run from a few months to 25 years, depending on the type of loan and how much you borrow. Large SBA and bank loans tend to have the longest terms — especially for equipment and real estate. Working capital loans often come with much shorter terms.