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Loan Types

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Short Term Loan

Term Loan Calculator

$ 25000
$ 25000
$ 500000

Your estimated monthly payment

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Origination fees:
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Total repayment:
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Complete a single, straightforward application. No fees or obligations, and your credit won’t be affected

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How to Utilize a Short-Term Business Loan Calculator

Calculate Monthly Payment

To get the most accurate results from our short-term business loan calculator, you’ll need to provide a few key details:

 

  • The loan amount you’re requesting
  • The loan term
  • The interest rate
  • The origination fee


The calculator will then display your estimated monthly payments, origination fee, and total repayment amount.

Estimate Your Potential Loan Amount

You can also estimate the amount you may qualify for with a short-term business loan. After entering your details, the calculator will provide a range of possible loan amounts you could borrow. This can help you gauge the expenses you might be able to cover and determine if additional financing is necessary. The calculator requires the following inputs:

Date Business Was Established

This refers to the month and year when your business officially began operations.

Yearly Revenue

This refers to the total income your business generates over a 12-month period.

Deposits from Last Month

Last month’s deposits reflect the total amount of money you deposited into your business bank account during the previous month.

Estimated Credit Rating

Here, you will choose your business’s estimated credit score.

How to Lower the Cost of a Short-Term Loan

  • Make timely minimum payments each month to avoid late fees and improve your credit score. If you anticipate missing a payment, inform your lender ahead of time.
  • Consider setting up automatic payments, or if you prefer manual payments, use calendar reminders to ensure you never forget or miss a payment.
  • Check with your lender regarding early repayment options. Some lenders may offer a discount for paying off your loan early, while others might impose prepayment penalties. Before making any early payments, inquire about any potential penalties or discounts associated with your short-term loan.

FAQs

Short-term business loans are determined based on the loan amount, term, interest rate, and associated fees, such as origination fees. Generally, a larger loan amount and higher interest rate will result in higher overall costs for the loan.

Short-term loans are deemed riskier for lenders due to their shorter repayment period, which leads to higher interest rates. These elevated rates help ensure that lenders still earn a profit, even if borrowers default on their loans.

To calculate the interest on a six-month loan, you’ll need the total loan amount, the interest rate, and the origination fee. For instance, if you borrow $10,000 for six months with a 10% interest rate and a 2% origination fee, the total interest would be $293.68.
Many online lenders provide short-term business loans with more flexible qualification criteria. You might still qualify even with fair or poor credit, but be ready for a higher interest rate.
Short-term business loans typically range from $5,000 to $750,000. The amount you can be approved for depends on factors such as the lender you select, your credit score, and your business’s financial situation.

Explore and compare loan options from various lenders.

The application is free and won’t affect your credit score.

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