Our business loan calculator will help you calculate the cost of a Asitimo Financial loan. This calculator will provide you with the cost of your loan and the amount of your monthly payment since we want to be 100% transparent with you in terms and costs.
How do I use the Business Loan Calculator?
Our business loan calculator is very easy to use, just enter the following information:
Desired Capital – Enter the desired loan amount. Number of Fees – Select between 24 to 60 monthly installments. Monthly Interest Rate – Select between 1% to 2.5% monthly interest.
Once you have selected these options, click Calculate. Check the loan terms, cost and monthly payments. If you want to run a new calculation, click Reset Calculator.
Can I pay the payments of a Business loan?
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Once you calculate your Monthly Payment with the Business Loan Calculator, make sure it does not exceed 80% of your personal and business monthly income. For example, if your household’s income after rent and credit payments is $ 1,000 per month, you can pay a loan with a Monthly Payment of $ 800.
Also, make sure that the cost of the loan does not exceed the expected benefit of your investment. For example, if you plan to buy inventory with the loan to obtain a gross profit of $ 2,000 within 12 months, you should take the loan as long as you can pay the monthly payment and the cost of the loan does not exceed $ 2,000.
Prequalify for a loan within 24 hours!
Definitions of the Business Loan Calculator
- DESIRED CAPITAL The requested amount of the business loan.
- ANNUAL INTEREST RATE This is your annual interest rate and will help you calculate your total interest to pay.
- TOTAL INTEREST TO PAY It is the total interest paid during the term of the loan.
- CLOSING CHARGE This is the fee paid for the loan. This amount is deducted from the initial loan amount on the day it is transferred.
- TRANSFER FEE This charge is charged by the bank for sending the funds through direct deposit (or ACH). This amount is deducted from the loan amount.
- PAPER CHARGE With our online application without paperwork, we do not charge for any fees.
- LOAN COST The cost of the loan is the sum of the Total Interest Payable, Closing Fee, Transfer Fee and Paperwork Fee.
How do I apply for a Business loan?
Our online application is free and will not affect your credit score. Click here to see if you qualify and get prequalified in less than 24 hours.