Business Loan Calculator
Free business loan calculator. Estimate monthly payments, total interest, and APR for any business loan amount and term. Instant results — no sign-up required.
Loan Parameters
* This calculator provides estimates only. Actual loan terms, rates, and payments depend on lender approval and your specific qualifications. Contact an Approvd advisor for personalized rates.
Estimated Monthly Payment
per month for 24 months
Loan Amount
$100,000
Total Interest
$12,976
Total Repayment
$112,976
Payment Breakdown
First 6 Monthly Payments
| Mo. | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | $4,707.35 | $3,707.35 | $1,000.00 | $96,293 |
| 2 | $4,707.35 | $3,744.42 | $962.93 | $92,548 |
| 3 | $4,707.35 | $3,781.86 | $925.48 | $88,766 |
| 4 | $4,707.35 | $3,819.68 | $887.66 | $84,947 |
| 5 | $4,707.35 | $3,857.88 | $849.47 | $81,089 |
| 6 | $4,707.35 | $3,896.46 | $810.89 | $77,192 |
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About This Calculator
Use this free business loan calculator to estimate your monthly payment, total interest paid, and annual percentage rate (APR) for any small business loan. Adjust the loan amount, interest rate, and term to find the right balance for your business budget.
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Calculator FAQs
How is my monthly business loan payment calculated?
Monthly payment is calculated using the standard amortization formula: M = P[r(1+r)^n]/[(1+r)^n-1], where P is the principal, r is the monthly interest rate (annual rate ÷ 12), and n is the number of monthly payments. This formula ensures equal monthly payments throughout the loan term.
What interest rate should I use for a business loan?
Business loan rates vary widely by lender and loan type. Alternative lenders typically charge 10–40% APR for term loans. SBA 7(a) loans range from 10–13% APR. Lines of credit range from 8–25% APR. Revenue-based financing is often expressed as a factor rate (1.1–1.5x) rather than an APR. Use a rate you've been quoted or a realistic estimate for your credit profile.
What's the difference between interest rate and APR?
The interest rate is the base cost of borrowing. APR (Annual Percentage Rate) includes the interest rate plus all fees (origination fees, processing fees, etc.) expressed as an annual percentage. APR is the more complete cost comparison metric — always compare APRs when evaluating loan offers.
How much business loan can I afford?
A general rule is that your total debt payments (including the new loan) should not exceed 35–40% of your monthly gross revenue. For example, if your business brings in $50,000/month, total debt payments should ideally stay under $17,500–$20,000/month.
Does this calculator work for SBA loans?
Yes. Enter the SBA loan amount, your quoted interest rate, and the term (typically 84 months for working capital or 120 months for equipment). Note that SBA loans may have variable rates tied to the prime rate — this calculator uses a fixed rate. Actual SBA payments may vary slightly over time.
Rate Disclosure: APR and total cost of capital vary by lender, loan type, credit profile, and other factors. Rates shown are representative examples only and do not constitute an offer. Actual rates are determined by lenders at the time of application. Applying does not guarantee approval or any specific rate or term.
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