Use our fixed payment business cash advance calculator to calculate the payment of your fixed payment business cash advance by plugging in the numbers.
A two term may seem more appealing compared to a12 month term since your monthly payments will be less, but keep in mind that the longer your term the higher the factor rate. And that by extending the loan term means you’ll pay more in total interest/fees , which makes the financing more expensive overall.
For example, Tom’s Bakery wants a $100K fixed payment business cash advance for new equipment and repairs. Tom applies for a fixed payment business cash advance and receives approval for the $100K amount at a factor rate of 1.27 for a 12 month term.
By entering Tom’s $100K loan amount, selecting a 1.21 factor rate and 1-year repayment term into the fixed payment business cash advance calculator, we can see Tom would need to pay $504/per day or $2,520/ per week for 1 year.
