Business Line of Credit
Calculator
Slide to see how your draw-down, rate and term shape your repayments.
- 100% free
- No Credit Score Impact
- Results in seconds
Line of CreditCalculator
Select loan terms
$
%
years
Loan Summary
Principal
Interest
- Total Interest
- $11,982.41
- Total Payment
- $111,982.39
- Monthly Payment
- $3,110.62
| # | Payment ($) | Interest ($) | Principal ($) | Balance ($) |
|---|---|---|---|---|
| 1 | 3,110.62 | 625.00 | 2,485.62 | 97,514.38 |
| 2 | 3,110.62 | 609.46 | 2,501.16 | 95,013.22 |
| 3 | 3,110.62 | 593.83 | 2,516.79 | 92,496.43 |
| 4 | 3,110.62 | 578.10 | 2,532.52 | 89,963.91 |
| 5 | 3,110.62 | 562.27 | 2,548.35 | 87,415.56 |
| 6 | 3,110.62 | 546.35 | 2,564.27 | 84,851.29 |
| 7 | 3,110.62 | 530.32 | 2,580.30 | 82,270.99 |
| 8 | 3,110.62 | 514.19 | 2,596.43 | 79,674.56 |
| 9 | 3,110.62 | 497.97 | 2,612.65 | 77,061.91 |
| 10 | 3,110.62 | 481.64 | 2,628.98 | 74,432.93 |
| 11 | 3,110.62 | 465.21 | 2,645.41 | 71,787.52 |
| 12 | 3,110.62 | 448.67 | 2,661.95 | 69,125.57 |
| Year | Total Payments ($) | Total Interest ($) | Total Principal ($) | Remaining Balance ($) |
|---|---|---|---|---|
| 1 | 37,327.46 | 6,453.01 | 30,874.45 | 69,125.57 |
| 2 | 37,327.46 | 4,056.17 | 33,271.29 | 35,854.30 |
| 3 | 37,327.46 | 1,473.23 | 35,854.23 | 0.09 |
Looking To Compare?
Find out what rate your business qualifies for in minutes — 100% free and with no impact on your credit score.
This process will not affect your credit rating in any way.
How to use the line of credit calculator
Four quick steps to a clear picture of your line of credit repayments.
1
Set your draw-down
Enter the amount you plan to draw from your facility, not your full approved limit.
2
Add your rate
Interest is charged only on what you draw down. Use your quoted rate, or our default to start.
3
Choose a term
Line of credit terms typically run from 1 to 36 months. Slide to compare.
4
Read your summary
See your repayment, total interest, and the split between principal and interest at a glance.
FAQs about business line of credit repayments
Repayments on a business line of credit are usually automatically debited weekly or monthly from your attached bank account. This will depend on your lender.
With a business line of credit, you only pay interest on the amount drawn. This differs from traditional small business loans when you pay interest on the whole loan amount. To compare a line of credit to a traditional business loan – use this business loan calculator.
Interest rates on a business line of credit can range from 10-15% p.a., depending on whether it’s secured or unsecured and your lender. Use our business line of credit loan calculator to calculate your loan repayments and interest over the term.
A business line of credit can be secured or unsecured. A secured line of credit is when you provide an asset (e.g. property) as collateral to secure against the funds you borrow. An unsecured line of credit is more commonly used as it doesn’t require any collateral. You can use our unsecured line of credit calculator to calculate how much your monthly repayments will be on your drawn amount.
