Business Loan Calculator
Updated 31 May 2020
To find out what you will pay monthly and in total, simply insert:
Know this first: Our guide to business loans explains everything you need to know, and popular low-cost alternatives.
To find out what you will pay monthly and in total, simply insert:
- The loan amount (the total amount of money you want to borrow)
- The loan length (how long you want to repay the loan)
- The likely interest rate
Know this first: Our guide to business loans explains everything you need to know, and popular low-cost alternatives.
Business Loan Calculator
Loan Amount
Loan Payment
Loan Amount
Total Interest
Total Cost
-
Loan Amount
-
Total Interest
-
Total Cost
-
Our calculations are based on the assumption that you make the same fixed business loan repayment for the entire loan period, the interest rate does not increase or decrease, you don't miss any repayment deadlines, overpay or underpay.
Business loan fees and interest rates
Business loan fees and interest rates
- Be aware that advertised interest rates from lenders may vary from your actual rate due to your personal circumstances.
- Many banks charge loan approval fees (usually around 1% of the loan amount) which is added to the borrowing amount.
- The interest rate is dependent on the credit score of the borrower and any guarantors, the affordability or the loan (i.e. your financial position) and the purpose of the loan (e.g. is it for working capital, growth or an asset purchase).
- Because every business is different, the only way to find out the interest rate for your business is to approach lenders directly.
Know this: Missing a payment on a business loan will have severe consequences for the going concern of your business. Lenders may request your business is put into administration. Any delayed payments may make borrowing in the future far more difficult as well.
If you have security over your business loan, the security will be repossessed if you do not keep up with repayments.
If you have security over your business loan, the security will be repossessed if you do not keep up with repayments.
What is the maximum limit for a business loan?
It depends on the size of your business, but generally, unsecured loans can be as high as $75,000, and for small businesses, a $200,000 secured loan is not unusual. Different businesses attract different lending terms, so the only thing that matters is how much your business can borrow.
Where can I get the best business loan deal and terms?
- Our guide to business loans explains everything you need to know, and popular alternatives.
- Our guide to business credit cards outlines current offers available, and why business credit cards can be a low-cost alternative to applying for a business loan.
- Having a good personal credit history is important - our guide to credit scores and reporting explains what you need to know.
