When you shop for a business loan, interest rates are just one part of the big picture. You also need to consider how much you’re borrowing and how long you’ll need to pay it back. The Bankrate.com business loan calculator helps you answer all those questions and more.
Use the calculator to map out your strategy from start to finish by inputting the key elements of your commercial or small business loan:
The results will show your monthly payments plus how much interest you would pay on the principal loan amount. Take your simulated loan a step further by selecting Show amortization schedule to see a detailed, month-by-month schedule leading up to your final payoff date. You can even Add extra payments and find out how paying a little extra per month can reduce your total interest paid and speed up the payback schedule.
From small business loans to large commercial loans, rate estimate tools like the Bankrate.com calculator help businesses make a plan to invest in themselves. Take the business loan and interest rate calculator for a test drive today.
Particularly with small business loans, interest rates should be reasonable to help the borrower protect his bottom line. Find out what the experts recommend for getting great rates on small business loans and lines of credit.