Business Loan Calculator
Model a fixed-rate business loan: monthly payment, total interest and term, plus extra-payment savings.
Runs 100% in your browser — nothing is uploaded.
Result
Payoff
Yearly summary
| Year | Payments | Interest | Balance |
|---|---|---|---|
| 2000 | $6,959.76 | $1,655.72 | $24,695.96 |
| 2001 | $6,959.76 | $1,328.57 | $19,064.77 |
| 2002 | $6,959.76 | $981.25 | $13,086.26 |
| 2003 | $6,959.76 | $612.51 | $6,739.01 |
| 2004 | $6,960.05 | $221.04 | $0.00 |
Formula
Monthly payment = P·r(1+r)ⁿ ÷ ((1+r)ⁿ − 1), r = annual rate ÷ 12, n = months.
About this calculator
Fixed-rate installment loan: the payment is computed with the standard amortization formula and the schedule shows how each payment splits between interest and principal. Extra payments reduce the term and the total interest.
How to use
- 1
Enter the loan amount, annual interest rate and term (years plus months).
- 2
Optionally add an extra per-payment amount to see how much interest it saves.
- 3
Review the monthly payment, total interest, payoff date and full amortization schedule.
Frequently asked questions
How is the monthly payment calculated?
With the standard amortization formula PMT = P·r·(1+r)ⁿ / ((1+r)ⁿ − 1), where P is the principal, r the monthly interest rate and n the number of payments.
Do extra payments reduce the total interest?
Yes. Extra payments reduce the outstanding principal faster, which lowers total interest and shortens the payoff term.
Please note: Results are estimates for general information only and are not professional or medical/financial advice.