See the monthly payment, total interest, and what a loan really costs before you sign, in US dollars. Free, no sign-up.
Standard amortization with a fixed rate and monthly payments. Lender fees, variable rates, and compounding differences will shift the real numbers.
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Standard amortization: every payment is the same, but early payments are mostly interest and later ones mostly principal. A $50,000 loan at 8% over 5 years costs about $10,829 in interest.
Every payment splits into interest (an expense) and principal (not one). ReInvestWealth keeps your transactions categorized automatically, so the split doesn't land on you at tax time.
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For a standard amortized loan: payment = principal × r ÷ (1 − (1 + r)⁻ⁿ), where r is the annual rate divided by 12 and n is the number of monthly payments. A $50,000 loan at 8% over 5 years works out to about $1,014 a month. The calculator above does this for you and also shows total interest and the interest share of what you repay.
It depends on the lender, the term, and what secures the loan. SBA-backed and bank term loans price lowest; unsecured loans, lines of credit, and online lenders price higher, and merchant cash advances higher still. Rather than anchoring on a number, get two or three real quotes and compare them in this calculator: the difference in total interest is the honest price of each offer.
A longer term lowers the monthly payment but raises the total interest, because you rent the money for longer. That $50,000 loan at 8% costs about $10,830 in interest over 5 years, but about $22,800 over 10. Pick the shortest term whose payment your monthly budget genuinely absorbs.
Yes. Any amortized borrowing follows the same loan amortization math: a small business loan from a bank, an SBA loan, equipment financing, or a commercial term loan. Enter the amount, rate, and term and the payment and total interest hold. Only a business line of credit works differently: interest accrues on just the balance you've drawn.
A term loan suits a one-time purchase (equipment, a buildout, an acquisition): fixed amount, fixed schedule, usually a lower rate. A line of credit suits gaps in timing (payroll before invoices land): you draw only what you need and pay interest only on the drawn balance. Many businesses eventually carry one of each for the two different jobs.
Generally yes: interest on money borrowed for business use is deductible (on Schedule C, or your corporate return). The principal portion of each payment is not an expense; it repays the debt. That split is why loan payments trip up bookkeeping: each payment has to be divided between interest (expense) and principal (liability), every month.
Yes, it's free with no sign-up required. ReInvestWealth is accounting software that tracks your loan payments as they happen and keeps your expenses categorized automatically, so you always know whether the payment fits the month. You can start a free 30-day trial anytime.
ReInvestWealth tracks your payments, interest, and every other expense automatically, so the loan's real impact is never a surprise.