Free calculator · no signup
Business loan calculator
What the payment is, what the loan really costs once fees are counted, and the APR that lets you compare two offers honestly.
Your loan
The quoted rate is not the cost. An origination fee comes out of what you receive but not out of what you repay, which is why APR is the only number worth comparing between lenders.
$
%
y
%
Charged up front on the loan amount.
Payment frequency
Monthly payment
$1,026
60 payments over 5 years.
Cash you actually receive$49,500
Origination fee (1.00%)$500
Interest over the term$11,550
Total cost of borrowing$12,050
True APR
8.93%
Higher than the 8.50% quoted rate because the $500 fee is money you pay but never get to use.
Falling faster over time: each payment is the same size, but less of it goes to interest as the balance shrinks.
Before borrowing, check the numbers hold up: break-even and margin decide whether the payment is affordable at all.