Business Loan Calculator
Our Business Loan Calculator helps you calculate the cost of a Camino Financial Business Loan. It will provide you with your monthly payment amount based on our average rates and fees.
It’s easy to use, and you can quickly see if you can afford the business loan. Our application is free
Can I afford the small business loan payments?
Our Business Loan Calculator will help determine your monthly payments and provide visibility on estimated costs of our small business loan.
Now, as a question of affordability. One general rule, is to use 80% of your monthly profits to cover your loan payment. For example, if the business makes $1,000 profit a month, you can allocate $800 towards a business loan to help grow your business.
Simple 1-2-3, How Do I Use the Business Loan Calculator?
Our Business Loan Calculator is so easy to use, simply enter the following info:
- Loan Amount – Enter your desired loan amount
- Number of Payments – Please select from 12, 18, 24 monthly payment amounts
- Annual Interest Rate – Please select from 15% to 26% interest rate
Once you have selected the three fields, press Calculate to see an itemized breakdown of the cost of your business loan.
Business Loan Calculator Definitions
- Loan Amount – The requested business loan amount.
- Annual Interest Rate – This is your annual interest rate, this rate helps calculate your total interest paid.
- Total Interest Paid – This is the total interest payment amount added during the term of the loan
- Closing Cost – This is the fee that is paid for the loan. This amount is deducted from the Loan Amount request. There is no actual out-of-pocket expenses.
- Funding Fee – This is direct deposit fee for us to wire the loan proceeds to your account. This amount is deducted from the Loan Amount Request
- Documentation Fee – With our paperless online application we have $0 documentation fees.
- Total Payback Amount – This is the total payment amount of your loan, including principal and interest.
How do I apply for a Business Loan?
Our online application is free and it will not affect your credit score. You can easily see if you qualify for a business loan and get pre-qualified instantly.