Calculator
Loan Payment Calculator Know the monthly bite.
Estimate the monthly principal-and-interest payment, total interest, and total cost of a fixed-rate, fully amortizing small business term loan.
Last updated Reviewed by ICG Funding
Estimate
Monthly payment$3,442.10
Total repaid over the term$123,916
Total interest paid$23,916
The formula
Monthly payment on a fully amortizing loan is:
payment = P × (r(1+r)^n) ÷ ((1+r)^n − 1)
Where P is principal, r is the monthly rate (APR ÷ 12), and n is the term in months.
Your business isn’t waiting. Neither should your capital.
Financing up to $1.5M with no hard credit pulls within 24 hours.
Average time to first offer: 3 hours