Free Tool
Business Loan Calculator
Estimate your payment, total interest and cost of borrowing — then see what funding your business actually qualifies for.
$
%
5 years
Payment frequency
Monthly payment
$1,037.92
per month
- Number of payments
- 60
- Total interest
- $12,275
- Total repaid
- $62,275
Estimate only, for planning. Actual rates and terms depend on the lender, your credit and the program. Not financial advice.
Before you borrow
See what funding you qualify for
You may qualify for grants or government-backed loans like the Canada Small Business Financing Program — often at better terms than a standard loan. We help GTA businesses find and apply for the right funding.
Explore funding options →Business loans — common questions
- How is a business loan payment calculated?
- A fixed-rate loan is amortized: each payment covers the period’s interest plus a bit of principal. The payment is P × r ÷ (1 − (1 + r)^−n), where P is the amount borrowed, r is the interest rate per payment period, and n is the total number of payments. This calculator does the math for you.
- What interest rate will I pay on a small business loan in Canada?
- Rates vary widely by lender, your credit and revenue, the loan term, and whether it’s a government-backed program like the Canada Small Business Financing Program (CSBFP). Use a realistic estimate here to model payments, and talk to us to find the actual programs you qualify for.
- Does a longer term lower my payment?
- Yes — spreading the loan over more years lowers each payment, but you pay more total interest over the life of the loan. Try a few terms in the calculator to see the trade-off.
- Can Markham Office help me get funding?
- Yes. We help GTA small businesses find and apply for the grants and loans they qualify for — including CSBFP and other programs. Start with our funding match to see your options.
Ready to launch your business?
Talk to our team and take the first step today — no obligation.