Wheatpeak Lenders, a small-business funding broker in Lewiston, Idaho, offers this free business loan payment calculator. Type in a loan amount, an annual rate and a term in months, and it returns the monthly payment, total interest and total repaid for a fixed-payment loan. Results are estimates from your own inputs, not offers; lending partners set actual rates and terms.
What the calculator does
It takes a loan amount, an annual interest rate and a term in months, and returns three figures for a loan with equal monthly payments: the monthly payment, the total interest over the term, and the total repaid. It assumes the rate stays fixed and no fees are added.
It does not model merchant cash advances, leases, lines of credit, balloon payments or fees. For those, work from the offer documents.
Short-term vs long-term: one comparison to run
Enter the same amount and the same rate twice: once with a short term, once with a long one. The longer term lowers the monthly payment and raises the total interest. Which matters more depends on what the money buys. Stock that sells within months rarely justifies years of interest; a remodel used for a decade may.
Daily or weekly payments, worked by hand
Some short-term offers collect payments daily or weekly. The calculator shows only monthly figures. To compare, add up every payment the offer schedules over its whole term, then set that total against the calculator's total repaid for a monthly loan of the same amount. The difference is the extra cost of the faster schedule, before fees.
Inputs worth trying
- The amount you actually need, from your own cost figures, not a round number.
- Two or three rates, to see how sensitive the payment is to the rate.
- A term that matches how long the purchase will keep earning.
If the payment fits only at the bottom of the rate range you tried, the plan has little room for error. That is worth knowing before a partner reviews it.
Reading the three results
Read the monthly payment against your cash flow. Read the total interest as the price of the money. The total repaid is the two together: the amount plus interest. A lower payment with a much higher total interest usually means a longer term than the purchase needs.
Why retailers use it
Retail trade had 180 employer establishments in Nez Perce County in 2023, more than any other sector (County Business Patterns 2023). Stores weighing a fixture purchase or a remodel can use the calculator to test whether a monthly payment fits alongside rent and payroll. Sector detail is on the retail store financing page.
After the estimate
A business term loan is the closest real-world match to these results; see business term loans. For short gaps, compare with working capital financing. The two-state checklist and the license guide sit on the resources page.
By Wheatpeak Lenders ยท Updated