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Once your loan is funded, track repayments and every other expense alongside your invoices.
Before you sign for a business loan, it helps to know exactly what it will cost you every month and over the life of the loan. This calculator turns a lender's headline interest rate into real numbers: your monthly payment, the total interest you will pay, and what the loan actually costs from start to finish.
Most business loans use a standard amortization formula, the same math behind mortgages and car loans. Each monthly payment is the same size, but the mix shifts over time: early payments are mostly interest, later payments are mostly principal.
M = P x r / [1 - (1 + r)^-n] M = monthly payment P = loan amount (principal) r = monthly interest rate (annual rate / 12) n = total number of monthly payments (years x 12)The calculator runs this formula for you. Enter your loan amount, annual interest rate, and term in years, and it returns your monthly payment, total interest, and total repayment instantly.
Type in the amount you want to borrow, the annual interest rate your lender quotes, and how many years you will take to repay it. If your lender charges an origination fee, a common upfront charge on business loans, enter that as a percentage and the calculator will show both the fee amount and the amount you will actually receive after it is deducted. Click "Show amortization schedule" to see a full month-by-month breakdown of principal, interest, and remaining balance.
An origination fee is a one-time charge some lenders deduct from a loan before disbursing it, typically to cover underwriting and processing costs. It is usually quoted as a percentage of the loan amount. If a $50,000 loan carries a 3% origination fee, $1,500 is deducted before the funds reach you, but you still repay the full $50,000 principal plus interest. This calculator shows both figures separately so the gap is not a surprise.
A fixed rate stays the same for the life of the loan, so your monthly payment never changes, which is what this calculator assumes. A variable rate is tied to a benchmark and can rise or fall over time, which means your actual payment could differ from this estimate as the rate moves. If you are comparing a variable-rate offer, use the current rate to get a snapshot, and recheck the numbers if the rate changes.
This calculator provides estimates for planning purposes. Actual loan terms, fees, and payment amounts are set by your lender and may vary.
Track loan repayments alongside every invoice, expense, and payment with a free Billbooks account.
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Before borrowing, the burn rate calculator shows how long the cash you already have lasts. The profit margin calculator tells you whether the work itself earns enough to carry a repayment.
Every trade bills differently. See how Billbooks fits yours:
Several small jobs a day, labor and materials on one invoice.
Deposits, materials markup, and job line items, handled right.
Keep the diagnostic fee separate from the repair cost.
Progress billing, retainage, and change orders.
Labor and parts priced right, plus a fair shop supply fee.
See how Billbooks fits your specific trade or business.
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