If you’re in the market for a small-business loan, knowing your monthly payments and the total interest you’ll pay will help you determine the loan’s affordability. As a general rule of thumb, the expected profits from the use of your business loan should exceed the loan’s total cost, and your business should generate enough cash flow to easily cover the loan’s monthly payments.
Calculate your monthly payments and total interest costs with NerdWallet’s business loan calculator.
Looking for a small-business loan?
NerdWallet has curated a list of small-business loans best for business owners. All of our recommendations are based on the lender’s market scope and track record and on business owners’ needs, as well as rates and other factors, so you can make the right financing decision.
Compare business loansSteve Nicastro is a staff writer at NerdWallet, a personal finance website. Email: Steven.N@nerdwallet.com. Twitter: @StevenNicastro.
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