What it is

Use it to see how a longer term can lower a payment and raise the total. Do not drop a factor rate into the interest box and call the result an APR.

What's typically needed

Latest three months of business bank statements
Time in business
A government-issued photo ID
Basic business details, such as legal name and industry

Illustrative loan math

Standard monthly amortization: the APR you type is divided by 12, the payment stays fixed, and there is no balloon. Fees you do not roll in are added to the total cost and are not part of the payment. This is not an offer. Do not type a merchant cash advance factor rate into the APR field.

Amount financedDollars, before fees unless you roll fees in.APR percentNominal annual percentage. Not a factor rate.Term in monthsUpfront feesDollars. Use 0 if you have none to test.

Roll the fees into the amount that accrues interest

Staying versus replacing

One column is the total if the current note runs the remaining months you enter, plus any payoff fee. The other is the replacement you enter. A lower monthly payment is shown as a difference. It is not labeled as savings.

If you keep the current note

Remaining balanceCurrent APR percentMonths leftPayoff or prepayment fee

If you replace it

New amount financedNew APR percentNew term in monthsNew upfront feesRoll the new fees into the new amount

Start application

Applying has no impact to your credit. Submitting this form does not pull a credit report.

Related: Rates · Term loan