Use our simple tool to calculate your monthly payment and total interest. Find out whether taking a loan is worth it for your business and make the best decision.
To calculate the optimal loan amount, you need to analyze the following metrics of your business:
Based on these figures, you’ll be able to find the optimal credit amount and interest rate that your company can afford.
Use our tool to see how much time and money you’ll be saving:
If you’re planning to invest in a small business, our free calculator is here to help! Get an accurate assessment of your potential expenses to find out whether you can afford to borrow the amount planned.
Opening a business is costly. Branding, rent, website development, etc. cost money. It’s not surprising that many entrepreneurs have to borrow money to get started.Plus, you’ll have to buy or rent equipment, pay for expendables, etc. If your business is not making a profit yet, this can be tricky. If you need extra money, you might want to apply for a business loan.A business loan can help deal with the following expenses:
A business loan is only a savvy investment when you can repay it once your business starts making a profit.
Your interest rate will depend on multiple factors, including your loan amount and term, your loan provider, whether or not a commission is applied, etc.To determine the optimal interest rate, you should do a research and discuss the issue with reliable loan providers.
The best way to find a business loan with a low interest rate is by comparing loan proposals from several loan providers.To determine whether you’re eligible for a loan, a bank will ask you to fill out a standard form. Then it will provide you with a loan proposal that includes the following information: loan amount, loan term, interest rate, and monthly payment.Upon receiving and analyzing loan proposals from several loan providers, you’ll be able to choose the one that suits your needs best.