Short Term Loan Calculator

A short term business loan can provide your company with cash to continue operating and expanding.

Before applying for a short term business loan, utilize the Lendzero Short Term Business Loan calculator to see your daily/weekly payments. Insert the information below:

• Requested amount: You may borrow as much as $750K.
• Factor rate: Factor rates for short term business loans provided by Lendzero’s partners begin at 1.13
• Repayment term: Short term business loans have a repayment term of three months to 24 months.

Use our Short Term Business Loan calculator to estimate the cost of a short term loan, which works as a shorter version of a typical bank loan where payments are made more frequently.

Sample of How to Utilize the Short Term Business Loan Calculator

For example, Tom’s Bakery wants a $100K short term business loan to buy new equipment. Tom applies for a short term business loan and receives approval for the $100K amount at a factor rate of 1.21 for 12 months.

By entering Tom’s $100K request amount, 1.21 factor rate and 12-month repayment term into the Short Term Business Loan calculator, we can see Tom would need to pay $480/day for 12 months.

The Short Term Business Loan calculator will show you the exact amount you’ll need to repay each day/week in both interest and principal. 

To be clear, definitions are below.

Request amount: Total amount of debt you will owe to the lender.

• Factor rate: Interest rate for the debt expressed in decimal form. A factor rate is utilized to calculate the fee, which is a percent of the total loan amount rather than a fee based on depreciating principal. As such, the expense of a short term business loan is the same regardless of when you pay the loan off during the repayment term.
• Repayment term: Amount of time the debt will be outstanding.

Keep in mind lender could charge an origination fee upfront. 

Lenders have different types of fees and there are many factors they consider when it comes to determining the amount of their fee for each short term business loan. 

For example, some lenders may require a fee be paid based on the length of the repayment term. Other lenders might charge one flat fee based on the interest rate. 

In addition, if you default or miss a payment, there could be an extra fee.