Free business planning calculator
Loan Repayment Calculator
Calculate monthly loan payments, total interest, and total cost. Free loan calculator for small business loans, equipment financing, and lines of credit.
Enter the minimum numbers needed to get a result.
Updated live as you type.
Planning estimate only. It does not include taxes, overhead allocation, depreciation, discounts, or other business-specific adjustments.
A loan repayment calculator estimates the fixed monthly payment needed to fully repay a loan with interest over a set term.
Formula and example
Monthly payment = P x [r(1+r)^n] / [(1+r)^n - 1] where P = principal, r = monthly rate, n = number of payments
A $50,000 loan at 8% APR over 60 months has a monthly payment of $1,013.82, total interest of $10,829.18, and total cost of $60,829.18.
Methodology & assumptions
Last updated: 2026-06-11Calculation method
Uses the standard amortization formula for fixed-rate loans with equal monthly payments. Monthly rate is annual rate divided by 12 and converted to a decimal. Total interest is the sum of all payments minus the principal.
Data sources
Uses the numbers you enter and standard small-business finance formulas. Benchmark comparisons use HustleFin industry benchmark pages where available.
Limitations
Assumes fixed interest rate and no early repayment. Does not include origination fees, insurance, or other loan costs. Actual payments may vary for variable-rate loans.
Input definitions
- Loan amount: Total amount borrowed.
- Annual interest rate: Annual percentage rate (APR).
- Loan term (months): Total number of monthly payments.
Frequently asked questions
How is the monthly payment calculated?+
Using the standard amortization formula that spreads principal and interest evenly across all payments. Early payments are mostly interest; later payments are mostly principal.
Should I include loan payments in my break-even analysis?+
Yes. Loan payments are a fixed cost. Add them to your fixed costs when using the break-even calculator to get an accurate break-even point.
What is APR vs interest rate?+
The interest rate is the cost of borrowing the principal. APR includes the interest rate plus any fees the lender charges, giving a more complete picture of the loan cost.
Can I pay off the loan early?+
Early repayment reduces total interest paid, but this calculator assumes you pay the full term. Check your loan agreement for prepayment penalties.
Related guides
Go deeper with in-depth guides on the concepts behind this calculator.
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