Loan Calculator & Comparison Tool

What is This Tool?

This tool calculates your monthly payment and balloon payment for a business loan, using the loan amount, interest rate, maturity, and amortization a lender would actually use. You can run up to three loan scenarios side by side to compare offers or see how changing one term changes your payment.

Maturity and amortization aren’t the same thing. Amortization is the length of time used to calculate your payment, say, 25 years. Maturity is when the loan actually comes due. A loan can amortize over 25 years but mature in 10, meaning your payment is based on a 25-year schedule but the remaining balance comes due at year 10. That remaining lump sum balance due is called a balloon payment.

How to Use This Tool

Enter your loan amount, interest rate, maturity, and amortization, and add up to two more loans to compare side by side. The tool calculates your monthly payment, balloon payment, and full amortization schedule for each one. When you’re finished, enter your email address and I’ll instantly send you a PDF copy of your comparison and amortization schedules.