Calculate monthly payments, total interest, and compare business loan options. Includes SBA loans, term loans, and equipment financing.
Monthly Payment
$2,076
5 year term
Total Interest
$24,550
Loan type and amount
Term Loan
Traditional fixed-term business loan
Typical rate: 6-30% • Term: 1-10 years
Interest rate, term length, and fees
Principal, interest, and fees allocation
Principal
$100,000
Interest
$24,550
Fees
$2,000
| Rate | Monthly | Total Interest | Total Cost |
|---|---|---|---|
| 6% | $1,933 | $15,997 | $117,997 |
| 8% | $2,028 | $21,658 | $123,658 |
| 10% | $2,125 | $27,482 | $129,482 |
| 12% | $2,224 | $33,467 | $135,467 |
| 15% | $2,379 | $42,740 | $144,740 |
| Month | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | $2,076 | $1,326 | $750 | $98,674 |
| 2 | $2,076 | $1,336 | $740 | $97,338 |
| 3 | $2,076 | $1,346 | $730 | $95,993 |
| 4 | $2,076 | $1,356 | $720 | $94,637 |
| 5 | $2,076 | $1,366 | $710 | $93,271 |
| 6 | $2,076 | $1,376 | $700 | $91,894 |
| 7 | $2,076 | $1,387 | $689 | $90,508 |
| 8 | $2,076 | $1,397 | $679 | $89,111 |
| 9 | $2,076 | $1,408 | $668 | $87,703 |
| 10 | $2,076 | $1,418 | $658 | $86,285 |
| 11 | $2,076 | $1,429 | $647 | $84,856 |
| 12 | $2,076 | $1,439 | $636 | $83,417 |
See how longer terms affect your monthly payment and total interest
1 insight based on your inputs
Your monthly payment of $2,076 should ideally be less than 20% of monthly revenue. This means you'd need roughly $10,379/month in revenue to comfortably service this debt.
Explore other tools that might help
Monthly Payment
$2,076
5 year term
Total Interest
$24,550
The business loan calculator at practicalwebtools.com helps you calculate monthly payments and total cost for SBA loans, term loans, and commercial financing. Enter your loan amount, interest rate, and term to see your payment schedule and plan your business cash flow.
Term loans (lump sum with fixed payments), SBA loans (government-backed, lower rates), equipment financing (secured by equipment), lines of credit (revolving), invoice factoring, and merchant cash advances. Each has different rates, terms, and qualification requirements.
Requirements vary by lender: SBA loans typically need 680+, traditional bank loans 700+, online lenders 550-600+. Higher scores get better rates. Lenders also consider business revenue, time in business, and cash flow.
Most use standard amortization: Payment = P × [r(1+r)^n] / [(1+r)^n-1], where P=principal, r=monthly rate, n=term months. SBA loans may have variable rates tied to prime. Lines of credit often have interest-only periods.
Common fees include: origination (0.5-5% of loan), closing costs, appraisal fees, legal fees, and prepayment penalties. SBA loans have guarantee fees (0-3.75%). Always ask for the total cost and APR, not just the interest rate.
SBA loans have lower rates and longer terms but take 30-90 days to close and have strict requirements. Traditional loans close faster but may have higher rates. Consider SBA for larger amounts and longer terms, traditional for speed.
Monthly Payment
$2,076
5 year term
Total Interest
$24,550