The Short Term Business Loan calculator will show you the exact amount you’ll need to repay each day/week in both interest and principal.
To be clear, definitions are below.
Request amount: Total amount of debt you will owe to the lender.
- Factor rate: Interest rate for the debt expressed in decimal form. A factor rate is utilized to calculate the fee, which is a percent of the total loan amount rather than a fee based on depreciating principal. As such, the expense of a short term business loan is the same regardless of when you pay the loan off during the repayment term.
- Repayment term: Amount of time the debt will be outstanding.
