Please find below various loan calculators. The aim of providing these is to give a guide to various costs, interest and repayments when taking out a business loan. These tools are guides, every lender will calculate their own loans in a slightly different way.
Use the loan calculators as a guide and for what they are. Most of these models give figures in US$, don’t worry as the actual numbers are correct. We use these loan calculators as they tend to work well. Hope they help.
Loan Repayment Calculator
This calculator will work out loan repayments for you based on interest rate, amount and term.
Loan Calculator – APR Quoted
This works for loans using an APR interest rate. Typically commercial loans are not quoted using an APR, some smaller and fixed rate loans do use APR.
Mortgage Repayment Calculator
This uses amount, term and interest to work out monthly repayment cost.
Loan Interest Comparison Calculator
This takes two interest rates, then gives loan repayments based on both rates. This is useful where you want to budget for future interest rate increases or compare packaged loan options more easily.
These are tools to aid your decision and help budgeting with loans. If you are considering borrowing for your business then consider all the options carefully, often the most obvious funding option is not always the best.
For any questions about borrowing for your business then please get in touch on 01293 541333 or contact us via our contact page.