Estimate fixed monthly loan payments, total repayments and interest from principal, a nominal annual note rate and a whole-month term.
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Result Summary
Review the main answer, supporting values, chart breakdown, and calculation details.
Result Breakdown
Calculation Details
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Fixed-rate payment scope
This is a fixed-rate, fully amortizing installment estimate. It does not model SBA fees or guarantees, factor-rate products, interest-only periods, revolving draws or balloon payments.
Enter principal from $0.01 through $1 billion, a nominal annual interest rate from 0% through 100%, and 1-600 whole monthly payments. Fractional years are accepted when the combined term is a whole number of months; extra months must be whole numbers from 0 through 11. These are numerical bounds, not offered loan terms. The input rate is divided by 12, and fees are not included. The CFPB distinguishes an interest rate from APR, which can include other charges.
For example, $10,000 at a 10% annual note rate over 60 months gives about $212.47 monthly, $12,748.23 in loan payments and $2,748.23 interest. At 0% it gives about $166.67 monthly. Values are calculated before display rounding; the chart compares principal with total interest, not principal plus an extra copy of one monthly payment. This is not a lender payoff quote.
How it works
Estimate fixed monthly loan payments, total repayments and interest from principal, a nominal annual note rate and a whole-month term. Use the units shown in the calculator and review every assumption before using the result.
Formula
Payment = P x r x (1+r)^n / ((1+r)^n - 1).
Worked example
Enter sample values to generate an illustrative business loan calculator result.
Important assumptions
This tool is designed for planning and comparison. Real-world prices, manufacturer ratings, building requirements, lender terms, electrical codes, tolerances, and product specifications can vary.
Frequently asked questions
Is this calculator free?
Yes. It runs in your browser and does not require an account.
Are the results exact?
The math is deterministic for the entered values, but the result depends on inputs and assumptions. Verify safety-critical, financial, code-related, towing, fitment, and manufacturer-specific decisions with authoritative information.