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Business Loan Term Comparison Calculator

Compare different loan options to make informed decisions for your business

Add New Loan

Add loans to compare them side by side

Loan Education Center

Types of Business Loans

  • SBA Loans: Government-backed loans with competitive rates but longer approval times
  • Term Loans: Traditional fixed-rate loans with regular payment schedules
  • Line of Credit: Flexible funding you can draw from as needed
  • Equipment Financing: Loans specifically for purchasing business equipment

Understanding Loan Terms

  • APR: The true cost of borrowing, including fees and interest
  • Amortization: How your payments are split between principal and interest
  • Origination Fee: One-time fee charged for processing the loan
  • Prepayment Penalty: Fee charged for paying off the loan early

Tips for Choosing a Loan

  • Compare APRs rather than just interest rates
  • Consider the total cost of the loan, not just monthly payments
  • Review all fees and penalties before committing
  • Ensure the payment schedule aligns with your cash flow

Warning Signs

  • Interest rates significantly higher than market average
  • Excessive origination fees or prepayment penalties
  • Pressure to accept the loan quickly
  • Hidden fees or unclear terms

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