Business Loan Calculator
Business loan shopping can often be a very meticulous task. With a range of interest rates, extra fees and a wide variety of repayment conditions, it becomes hard to compare which lender is giving you a deal best tailored to your needs. For this reason, you need a business loan calculator to help you see exactly how your loan repayments will look before you apply for any single loan. Introducer’s main aim is to make business loan repayment and business financing a breeze for you. We don’t want you to fret over lengthy calculations and comparisons. With introducer.com.au, you can use our free calculator to help you answer all your queries about the loan deal. We have given you a detailed explanation of some terms that are related to business loans so that you may understand what you are getting into while applying for a loan.
Business finances are the money and credit that is used to run your business. Running a business entails finance for every economic activity such as the purchase of goods and assets or to pay off your employees. The loan repayment calculator will help you determine the amount of loan that you can take in a certain time period.
Whether your business is small or you run a commercial business, you will know that cash flow is king. To maintain this cash flow, most businesses will opt for business loans to achieve success in their business.
Your business may have a constant need to take loans and you obviously don’t want to waste precious time in calculating the loan repayments and the interest amounts every time you apply for a loan. Let our business loan calculator do all the hard work for you in calculating the loan repayment feasibility with different loan repayment periods of your choosing.
Business Loan Repayments Calculator
By inputting key elements of your business loan, the calculator will help you map out a strategy for repaying the total loan amount in addition to the fees and charges that your loan entails. This hassle-free calculator requires a maximum of 1-2 minutes of your time and requires you to input only 3 major details of your loan plan:
- Loan Amount
- Interest Rate
- Loan Term
Here are some specifics on the information required by the calculator
Loan Amounts, Interest Rates and Loan Term
The loan amount, also referred to as the principal sum, is the amount of money that you apply for, through a bank or an individual lender. By applying for the loan, you agree to the lender or the bank’s term of the loan payment. The terms vary depending on their interest rate and the loan repayment period. This loan amount reflects your business’s financial needs and is used to maintain your cash flow. You can input different loan amounts in the calculator to check repayment feasibilities that suit your business needs. The interest rates, in simple terms, is an amount that the lender charges you for borrowing their money. This amount is proportional to the principal sum. It is important to keep note of the interest rates of different banks while applying for loans as they can increase your cost of getting that loan significantly. With the business loan calculator you can enter different interest rates and get a free prediction for your total loan repayment. Loan term is the period in which the loan agreement stands upheld. During this period, or by the end of it, the loan amount should be paid in full or the loan term should be renegotiated. This is the stipulated time for repaying the debt. Business loans are often given for an average time of 5 to 10 years. However, the loan can last for any length of time upon which both parties (i.e. the lender and borrower) agree on. The business loan calculator requires you to enter your loan term so that you do not have to get in the time consuming process of calculating the loan payment terms of different lenders.
Fees And Charges
Did you know that, in some cases, you can get a business loan in under 24 hours after you apply for it? However, most banks will have extra fee and charges attached to applying for different loans. These fee and charges include Establishment Fee, Loan Service Fee and various others depending on your bank. Don’t fret because our loan calculator has your loan calculations taken care of! Our detailed calculation tool will assess your loan repayments by including all the extra fees and charges that your loan entails. If you are curious as to what they may be, contact your banker. You can also find the fees and charges in your detailer letter of loan offer.
Business loan application is a credit activity that requires you to obtain the Australian Credit License. The Australian law requires for you to be covered by credit license or authorization from the day you start a business. This law protects both the borrower and the lending parties by responsible use of credit. To learn more, click here.
Many banks, now, have separate credit cards or businesses. The cardholder business shows eligibility for paying the credit amount within a specified period of time. Credit card holders are liable to repay the credit amount within the stipulated time which is usually by the end of every month. You can use our loan calculator to calculate your credit card’s repayment along with their interest rates for different kinds of credit cards.
Terms And Conditions
In using Introducer.com’s calculator, you agree to our Terms & Conditions and Privacy Statement. Please ensure that you read these before using the calculator. You acknowledge that this agreement is reasonable and considerable. You represent the capacity to bind by this agreement.
Frequently Asked Questions (FAQs)
1. What information do we collect?
The only information that we require is your loan terms. You will be asked to enter them in the given fields. No other personal information is required for loan repayment calculation.
2. How does your online calculator work?
Our online calculator works with the help of a financial algorithm which supports multiple loans and repayment calculations.
3. What can I calculate with the help of your loan calculator?
You can calculate interest rate, repayment period and loan amount with the help of our calculator. Additionally our business loan calculator also allows you to calculate taxes and personal finance.
4. Does your online calculator store any information that is input?
No, none of your information is stored. So crunch your numbers without any fear!