Business loan calculator: What will a loan cost my business?
Estimate your payment, weekly or monthly, and the full cost with fees. Add revenue to see how much of it the payments would take.
How Shop does the math
The payment is the fixed amount that repays the loan at your interest rate, monthly or weekly.
Total cost is the interest plus the origination fee.
Share of revenue compares a month of payments with your monthly revenue.
Questions, answered
Weekly or monthly payments?
Some online lenders collect weekly or even daily. Weekly payments are smaller, but there are about 4.3 of them a month. Compare the monthly total, not the single payment.
What if a lender quotes a factor rate?
Some funders quote a factor rate, such as 1.2, instead of an interest rate. This calculator needs an interest rate. Ask the lender for the APR so you can compare offers.
Where do the lowest rates come from?
Banks and SBA-backed loans often have lower rates, but take longer to fund. Online lenders can fund in days, usually at a higher cost.
