Business loan repayment calculator
Monthly repayment
£4,992.41
- Number of repayments
- 24
- Total repaid
- £119,817.84
- Total interest
- £19,817.84
- Interest per £1 borrowed
- £0.20
- Same deal as a factor rate
- 1.198
Level repayments on an amortising loan. Fees aren't included: add them with the offer checker.
Enter the amount, the APR, the term and how often you'll pay, and this calculator shows each instalment, the number of payments, the total repaid and the interest. It's built for standard amortising business loans and asset finance, where every payment is the same and interest is charged on the balance still owed.
How to use it
- Amount. What you're borrowing.
- APR. The annual interest rate as a percentage. Use 0 for an interest-free balance.
- Term in months. Up to 360.
- Payment frequency. Monthly, weekly or daily (business days).
The method, exactly
- Payments per year: 12 monthly, 52 weekly, 252 daily. Daily means business days, 21 a month. That's the convention most UK and US calculators use for daily-debit finance; it's an assumption, not a lender rule.
- Number of payments = term × payments per month, rounded to whole payments.
- Rate per payment = APR ÷ payments per year.
- Instalment = the standard level-payment formula: the amount that repays the loan in full over that number of payments at that rate.
- Total repaid = instalment × number of payments. Interest = total repaid − amount borrowed.
Worked example
£100,000 at 18% APR over 24 months:
| Frequency | Payments | Each payment | Total repaid | Interest |
|---|---|---|---|---|
| Monthly | 24 | £4,992.41 | £119,817.84 | £19,817.84 |
| Weekly | 104 | £1,146.62 | £119,248.80 | £19,248.80 |
Notice the interest is about 20p per pound borrowed, not 36p (18% for two years). That's because you're paying the balance down as you go, so interest is charged on less and less.
Why checking matters on business finance
Business finance for limited companies is not regulated by the Financial Conduct Authority. The FCA's financial promotion rules in CONC 3 don't apply to a promotion that clearly indicates it is solely promoting credit agreements for the purposes of a customer's business. In practice, that means nothing obliges a business offer to show a representative APR, and you'll see monthly rates, flat rates and "pence in the pound" quotes. Converting them yourself is the only reliable way to compare.
Limitations
- No fees. Arrangement, documentation and option-to-purchase fees aren't included. Fees deducted up front mean you receive less but repay the same, which raises the real APR. Use the offer checker for that.
- Fixed rate only. Variable-rate loans will change as the rate moves.
- Level payments only. Balloon payments, payment holidays and stepped repayments need the provider's own schedule.
- Not for cash advances. A factor-rate advance has a fixed total rather than interest on a falling balance; use the MCA APR calculator.
- It's an illustration, not an offer or advice.
Ready for a straight answer?
Two minutes of questions. One funding specialist. No impact on your credit score.
Questions owners ask
Does this include arrangement fees?
No. It works out repayments on the amount borrowed at the APR you enter. If a fee is deducted from the loan, use the offer checker to see how it raises the real cost.
Why is the interest lower if I repay weekly?
Each payment reduces the balance a little sooner, so slightly less interest builds up. On £100,000 at 18% over 24 months, weekly payments cost about £570 less in interest than monthly ones.
Can I use it for a flat-rate quote?
Not directly. A flat rate charges interest on the original amount for the whole term, so it costs more than the same number as an APR. Ask the provider for the APR or the total payable.
Why didn't my offer come with a representative APR?
The FCA's consumer credit promotion rules don't apply to promotions made solely for business purposes, and business finance for limited companies is not FCA-regulated. Many business offers quote a monthly or flat rate instead, which is why it pays to check the numbers yourself.