Use our Short Term Business Loan calculator to estimate the cost of a short term loan, which works as a shorter version of a typical bank loan where payments are made more frequently.
For example, Tom’s Bakery wants a $100K short term business loan to buy new equipment. Tom applies for a short term business loan and receives approval for the $100K amount at a factor rate of 1.21 for 12 months.
By entering Tom’s $100K request amount, 1.21 factor rate and 12-month repayment term into the Short Term Business Loan calculator, we can see Tom would need to pay $480/day for 12 months.
