Prior to getting any sort of loan, it’s important to know just how much debt you can afford and the best way to do this is by first working out the repayments. Our simplified loan payment calculator provides you the monthly repayment amount based on the loan principle (you must include set up charges), interest (annual %), duration (months) and monthly fees. Just input the information required and you it will come up with a monthly repayment figure.
Having a good estimate of your monthly payment can help when you’re budgeting for your business’s cash flow. If the estimated repayments are higher than your surplus cash flow, then it is probably a good idea not to go ahead with the loan. In any case, it is always best to see your accountant or a professional for advice prior to making large investment or finance decisions.