Startup Business Loan Calculator

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How to Use The Startup Business Loan Calculator

Estimate Your Payment
Estimate How Much You May Qualify For
How Your Startup Loan Payments are Calculated
Terms and Explanation
Other Factors that Influence Your Payments
How to Reduce Startup Loan Costs

Estimate Your Payment

To make the best use of our startup business loan calculator, you’ll need a few pieces of information. The calculator requires the following:

You’ll also be able to see an annual percentage rate (APR) to compare costs. Total interest can be calculated by subtracting fees from the total financing cost.

Estimate How Much You May Qualify For

You can also estimate how much you may qualify for if you take out an SBA loan. Once you fill out your information, the calculator will give you a range of dollar figures in which you may be able to borrow. This will give you an idea of the types of expenses you may cover and whether or not you might need to seek additional financing elsewhere. The inputs for this calculator include:

Business Start Date

This is the month and year your business officially started operations.

Annual Revenue

This refers to the total amount of money your business makes during a 12-month period.

Last Month’s Deposits

Last month’s deposits show how much money you deposited into your business bank account in the previous month.

Estimated Credit Score

This is where you select your business’ estimated credit score.

How Your Startup Loan Payments are Calculated

Startup business loan payments are determined by three main factors: loan amount, interest rate, and term.

Startup Loan Amounts

Startup loans typically range from $9,000 to $20,000. You can be funded for as little as $500 or for as much as $750,000 (though you’ll need a large personal income for a loan that size).

Startup loan decisions are made differently from other forms of business financing. Instead of basing funding on revenue, time in business, and your business’ credit history, lenders will look at factors like the type of business you’re starting, the related experience you have, and your personal credit score, among other factors.

Startup Loan Interest Rates

Interest rates for true startup loans typically range from 10% to 28%. For qualified borrowers, that rate can drop to 7%.

These rates may be slightly higher than other forms of business financing, but startup loans make financing more accessible to companies that may not yet qualify for a business loan. You know what they say—10% in the hand is worth 30% in the bush.

Startup Loan Terms

Since there are several startup business loan options available, term lengths differ. For example, you can expect to pay off a term loan over one to five years or opt for a credit card that will provide revolving access to cash.

Terms and Explanation

Here are the essential pieces of information you’ll need to enter and take note of as outputs on our startup business loan calculator.

Amount Seeking

The amount seeking is how much you’d like to borrow when you take out a startup business loan. Most startup loans are anywhere between $9,000 and $20,000. Of course, the larger your loan, the larger your monthly payments will be.

Loan Term

Loan term refers to how long it will take you to repay your loan. While term lengths vary by lender, remember that a longer term will lead to lower monthly payments, but cost you more in interest in the long run.

Annual Rate

Annual interest rates for startup loans vary by lender and depend on your credit score. It’s a good idea to shop around to find the lowest rate for your unique situation. 

Estimated Daily Payment

This figure refers to how much you’ll pay on a daily basis to repay your startup business loan.

Estimated Weekly Payment

Estimated weekly payment is how much you’ll pay every week to pay back your startup business loan.

Total Repayment

Total repayment is the total amount you’ll need to pay with interest. It can give you an idea of your overall cost of borrowing. 

Other Factors That Influence Your Payments

Application Fees

Applying for and reviewing your loan options through Lendio is always free—however, many lenders will charge application fees. It’s a good rule of thumb to ask about potential application fees before starting the process with a lender.

Origination Fees

Lenders sometimes charge upfront origination fees when a loan is funded to cover the cost of putting a loan in place. Ask if your lender charges an origination fee and how it’s paid to determine the full cost of your startup loan (and when payments are due).

How to Reduce Startup Loan Costs

You can take the following steps to avoid surprises in the loan repayment process.
Make your minimum payment each month

That’s the easiest way to keep your costs under control. This practice helps you avoid late fees and boost your credit score, which is especially important if you’re working toward qualifying for a different form of business financing in the future.

Calendar your due dates

Set up automatic payments. Do whatever you need to do to “set it and forget it,” so those startup loan payments are always on time.

Find out where your lender stands on early payment

Some lenders will offer you a modest discount for paying off your loan early, while others may implement prepayment penalties. Before you rush to make advance payments, ask your lender about any potential penalties or discounts that apply to your startup loan.


The amount of funding you can secure as a startup business will depend on several factors, like your personal credit, the nature of your business, and your revenue history. Depending on the lender and loan type, you can typically borrow anywhere from $1,000 to $5 million. You might have to use several financing sources to get the total amount of funding you need to meet your goals.


If you’re a startup, you might not have a business credit score. In this case, many lenders will look at your personal credit instead. A personal credit score between 640 and 700 is ideal for a startup business loan. If you don’t have the best credit, rest assured that there are lenders with more lenient criteria that may extend you a loan. However, you’ll likely have to settle for higher interest rates.


Interest rates for startup business loans typically range from 10% to 28%. The higher your personal credit score, the lower rates you’ll qualify for. The lender you choose and whether or not you secure your loan with collateral will also impact your rate.

Compare loan options from multiple funders.

Applying is free and won’t impact your credit.
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