Business Loan Calculator

Estimate monthly payment, total interest, total cost, and payoff timeline. Add fees and extra payments if needed.

How to Use

  1. Enter the loan amount, APR, and term.
  2. Choose payment frequency (monthly/weekly/biweekly) if offered in settings.
  3. Add fees or extra payments (optional).
  4. Open “Show Work” to see the formulas and steps.
Inputs
All calculations run in-browser. Values are not sent anywhere.
Principal borrowed (before fees unless you choose to roll them in).
Annual percentage rate. Example: 8.99
Length of the loan.
Compounding is an assumption; lenders vary. Monthly is common.
Fees (optional)
A one-time fee (percent or flat).
Added to each payment for total out-of-pocket.
Extra Payments (optional)
Applied every payment period.
Optional one-time principal reduction.
Show Work (step-by-step)
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Work is shown using the selected frequency assumptions. Final lender schedules may differ due to rounding and compounding rules.

Loan Payment Formula

Standard fixed-payment installment loan (principal + interest):

  • Periodic rate: r = APR / periodsPerYear
  • Number of payments: n = termInYears × periodsPerYear
  • Payment (P&I): PMT = P × (r(1+r)^n) / ((1+r)^n − 1)
Where P is amount financed (after optional rolled-in fees), r is periodic interest rate, n is number of payments.

FAQ

What’s the difference between APR and interest rate?

APR often includes certain fees in the annualized cost. This tool lets you model fees separately for transparency.

Do extra payments always reduce total interest?

Usually yes, if applied to principal. Some lenders have rules or penalties; always verify your loan terms.

Why might my lender’s payment differ slightly?

Small differences can come from rounding per period, day-count conventions, and compounding rules.

Tool Info

Last updated:

Updates may include fee options, export formats, and edge-case handling.