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Calculating How Much You Can Borrow with a Business Loan Calculator

 

Are you looking to find out just how much you can afford when it comes to a business loan? Discover top rates and how to use a business loan calculator.

With the rise of entrepreneurialism, small business lending has also seen a boom in recent years.

More and more, small business owners are realizing they need to act more like the big boys to make it in the current economic environment. But, it’s also easier to obtain funding than ever before for small business loans.

That doesn’t mean you know how to get one or how much you can ask for. That’s where a small business loan calculator comes in. Here we explain the ins and outs of calculating how much you can borrow with a business loan calculator.

 

What Is a Calculator for Business Loans?

A loans calculator allows you to see what you would owe and how long you would need to pay it off if you decided to apply for a small business loan.

This allows you to see what the daily and monthly repayment cost of the loan would be. It also gives you the breakdown of the total cost of the loan depending on how long you take to pay it off.

After doing these figures you may realize that getting an infusion of capital isn’t as out of reach as you once thought.

 

Who Should Apply for A Small Business Loan?

Our goal is to fund you when you need it but we also don’t want to implode your business by overburdening you with additional payments. So, you need to make sure it’s the right time to take out a loan.

Some great reasons to apply for a loan is if your business:

  • Needs an expansion
  • Cannot produce enough product to keep up with the demand
  • Needs to update and enhance the equipment to keep the business running
  • To cover the expenses of closing for renovations
  • Needs a boost for marketing and advertising a new product or sale
  • Needs to hire more people because the business is growing too fast

Sticking to this list means you will be able to use that capital for something tangible and not be encumbered by the payments down the line.

The time to get a loan is not when your business is in dire straights. Sometimes you need to listen to the market. If your sales have been trending down and it’s been hard to keep the lights on, the last thing you need is another substantial payment looming when business is already bad. Much better to walk away than to take on more debt for a business in decline.

I’ve Done The Business Loan Calculator and I Want to Apply, How Much Can I Borrow?

Our short term small business loan offers a wide range of amounts available to borrow.

It offers a much more flexible daily repayment option which is attractive to those who are worried about a large monthly payment hitting at the wrong time. The loan is a fast and straightforward solution to get your funds in as little as 24 hours after approval. Once you’re approved you’ll have access to the funding right away.

You also have the option of alternative payback based on your actual sales for the day.

You can borrow as little as $5,000 all the way up to $300,000 with this product. We want to be the provider who helps you take your business to the next level.

 

How Do I Know If My Business Qualifies For A Loan?

It’s simple to figure out if you are eligible for a short term small business loan. We have a few requirements that are easy to understand.

You’re required to have been in business at least 6 months before applying for our business loans. We will need your current ACN/ABN and bank statements for the business.

You must make at least $10,000 per month in your gross sales and have proof of ownership of the company. You’ll also need to know what loan amount you want and the repay loan amount you can afford.

Once you have gathered all your paperwork and decided if this is something you qualify for and are interested in then the next step is completing the application.

 

Is a Small Business Loan Right for Your Business? Only You, Your Accountant, and Your Partners Have the Answer

Taking on debt scares a lot of people. However, in business, especially in the beginning, a large amount of cash is necessary to launch up off the ground. Taking that initial leap can mean many thousands of dollars and not a lot of profits yet.

Also, with the rise of online shopping and the virality revolution, your new startup can go from unknown to worldwide sensation in less than a day. What do you do when you’re suddenly faced with way more purchase orders than you can handle and have to get a co-packer or another facility to help you out of nowhere.

Debt has a stigma but is a great asset if leveraged correctly and the risk weighed against the positives. In business, you want to be agile and having access to easy funding is the key to agility.

You want the option to buy the space next door to your insanely popular restaurant the minute it unexpectedly comes on the market and you need the money for the expansion. This is when the business loan calculator really comes into play.

Ready to launch your dream business? Expand your home kitchen cookie operation? Here at Capify, we have you covered. In a few simple clicks, we can get you funded.

Apply right now.

 

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