Business loan calculator

Compare the total costs of two business loans side-by-side to find your best option.

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When you’ve got multiple loan or refinancing offers on the table and aren’t sure which to choose, take the time to calculate the total cost of each to help guide you toward the right decision.

How does the business loan calculator work?

The business loan calculator allows you to put in details of 2 loans to compare the full cost of each. Compare interest and fees, and calculate the fixed, ongoing and total cost of repaying the loan.

After you’ve entered the details of your loan options, the calculator shows you the cost of monthly repayments and the total amount you’ll pay back in principal and interest. If you decide to compare 2 loans, you’ll see the lender that costs less over the term you choose.

Business loan calculator

See how much you'll pay
Your loan
Loan amount
Loan terms (in years)
Interest rate
$ %

Fill out the form and click on “Calculate” to see your estimated monthly payment.


Compare business loans now

Based on your loan terms...

You can expect to pay back $ per month

This breaks down to...

$ in principal and $ in interest charged Compare business loans now

How to use this business loan calculator

Follow these steps to figure out how much you’ll pay each month and in total over the life of your loan:

  1. Enter the amount your business wants to borrow under Loan amount.
  2. Enter the amount of time your business needs to pay back the loan under Loan terms.
  3. Write the interest rate under Interest rate if your loan has no fees. Or, enter the APR if the lender charges an origination, closing or annual fee.
  4. Click Calculate.
  5. Review your monthly payment and total interest charge.

Not happy with the results? Check out our list of lenders below to find one that fits your budget.

Definitions you should know

Read up on these common business loan terms:

  • Loan amount. How much your business plans on borrowing.
  • 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.
  • Monthly payment. What your business pays each month toward the loan balance and interest.
  • Principal. How much you owe your lender — also called the loan balance.
  • 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 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.

Find a business loan you can apply for today

Name Product Interest Rate Min. Loan Amount Max. Loan Amount Loan Term Minimum Revenue Min. Credit Score Filter Values
SharpShooter Funding Business Loan
Fee based, Prime pricing starting at 9.00%
6 months - 5 years
$4,166 /month
SharpShooter Funding offers loans up to $300,000 for small business owners who have been business for at least 100 days and can show a minimum of $4,166 in monthly deposits ($50,000/year).
OnDeck Business Loan
8.00% – 29.00%
6 - 18 months
$10,000 /month
OnDeck offers loans up to $300,000 for small business owners working in approved industries who have been in business for at least 6 months with a minimum monthly revenue of $10,000.

Compare up to 4 providers

Bottom line

Comparing your business loan options is a smart move when you’re looking to start a business or expand into new markets. Our free interest calculator can help you develop a savings plan for your future financial needs. You can also check out our guide to finding the best small business loans.

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