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Use our term loan calculator to estimate your monthly payment and origination fee. Input the amount you are seeking, desired term length, and factor rate to see how your payment changes.
How a Term Loan Calculator Can Help You
When a business owner applies for a term loan, sometimes the numbers aren’t always clear, which can make it difficult to understand. How do you calculate term loan payments? What is a term loan? What does it cost? What are the interest rates? How a term loan affects your credit? On this page, we’ll answer the financial questions borrowers have, so you can rest assured you’ll know the numbers.
How a Term Loan Works
Most business owners have heard, that term loans are one of the best products for small business owners who want to expand. Funds from a business term loan can be used in a multitude of ways to help a small business grow.
Term loans are viable options for established businesses that are showing a profit on their most recent business tax return. No two businesses are alike and all business owners have specific capital needs. Upwise funding specialists will be able to qualify your business for a term loan very quickly.
How to Calculate the Cost of Your Business Term Loan
- Enter the loan amount you are seeking, annual rate, and term in months
- The loan calculator will provide your estimated monthly payment
- Keep in mind, the rate, term, and cost will be determined by what your business qualifies for
- Estimate your monthly payment, based on the loan details you’ve entered or were quoted.
- Also, your business may qualify for a weekly or bi-weekly payment option, if you prefer that over monthly
- Calculate your estimated origination fee
- Every term loan will have an origination fee, typically between 2-5% of the loan amount. The loan calculator with payments will show you what you will pay in origination fees.
Loan Calculator Help
Many merchants find it difficult to find out if they are getting the best deal on a term loan. If you fall into this category, our loan calculators will give you all the information you need to make an educated decision.
This calculator can be used to determine the estimated dollar amount of your monthly repayment. It can also provide information about the annual rate, and the origination fee of your loan.
Term Loan – Calculator Terms
- Amount Seeking: The amount you are seeking or have received from the term loan lender. This number is expressed as a dollar amount.
- Annual Rate: The multiplier used to determine the interest you’ll pay for the loan. Use the slider to choose the annual rate you’ve been provided. Similar to APR interest rates, but calculated as a fixed fee.
- Term: The term is the period of time in months, you will have to pay back the advance. Most cash advances range anywhere from 1 to 18 month period.
- Estimated Monthly Payments: This is approximately the amount you will have to pay per month, if you choose a monthly payment option, instead of a daily or weekly payment.
- Origination Fee: This is the fee that a lender or bank will charge at the closing of your loan. It’s deducted from the loan amount and in most cases, is calculated as a percentage
How to Apply for a Term Loan
Apply online in just a few minutes or call us directly to apply over the phone, its your choice and we like to hear from you. Call us today at (646) 837-5522
Our system evaluates your business and typically provides a decision within hours. Approvals for certain products may take up to 24-48 hours.
Sign your contract, submit closing documents and you'll receive the funds into your account via wire transfer or ACH. Available as soon as same day.
Inquire Now to Compare Term Loan Rates
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