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Commercial Loan Calcluator
Commercial Loan Calcluator is used to calculate the monthly loan payments for your commercial property or business. This business loan calculator is useful for investors who are investing in real estate.
Commercial Loan Calculator Results |
|
Monthly Principal: |
$771.96 |
Monthly Interest: |
$704.17 |
Monthly Payment: |
$1,476.12 |
Balloon payment: |
$62,244.43 |
Commercial Loan Amortization Schedule |
||||||
| Payment Date | Payment # | Interest Paid | Principal Paid | Total Payment | Remaining Balance | |
|---|---|---|---|---|---|---|
| Apr, 2024 | 1 | $704.17 | $771.96 | $1,476.12 | $129,228.04 | |
| May, 2024 | 2 | $699.99 | $776.14 | $1,476.12 | $128,451.90 | |
| Jun, 2024 | 3 | $695.78 | $780.34 | $1,476.12 | $127,671.56 | |
| Jul, 2024 | 4 | $691.55 | $784.57 | $1,476.12 | $126,886.99 | |
| Aug, 2024 | 5 | $687.30 | $788.82 | $1,476.12 | $126,098.17 | |
| Sep, 2024 | 6 | $683.03 | $793.09 | $1,476.12 | $125,305.08 | |
| Oct, 2024 | 7 | $678.74 | $797.39 | $1,476.12 | $124,507.69 | |
| Nov, 2024 | 8 | $674.42 | $801.71 | $1,476.12 | $123,705.99 | |
| Dec, 2024 | 9 | $670.07 | $806.05 | $1,476.12 | $122,899.94 | |
| Jan, 2025 | 10 | $665.71 | $810.42 | $1,476.12 | $122,089.52 | |
| Feb, 2025 | 11 | $661.32 | $814.81 | $1,476.12 | $121,274.72 | |
| Mar, 2025 | 12 | $656.90 | $819.22 | $1,476.12 | $120,455.50 | |
| Apr, 2025 | 13 | $652.47 | $823.66 | $1,476.12 | $119,631.84 | |
| May, 2025 | 14 | $648.01 | $828.12 | $1,476.12 | $118,803.72 | |
| Jun, 2025 | 15 | $643.52 | $832.60 | $1,476.12 | $117,971.12 | |
| Jul, 2025 | 16 | $639.01 | $837.11 | $1,476.12 | $117,134.01 | |
| Aug, 2025 | 17 | $634.48 | $841.65 | $1,476.12 | $116,292.36 | |
| Sep, 2025 | 18 | $629.92 | $846.21 | $1,476.12 | $115,446.15 | |
| Oct, 2025 | 19 | $625.33 | $850.79 | $1,476.12 | $114,595.36 | |
| Nov, 2025 | 20 | $620.72 | $855.40 | $1,476.12 | $113,739.96 | |
| Dec, 2025 | 21 | $616.09 | $860.03 | $1,476.12 | $112,879.93 | |
| Jan, 2026 | 22 | $611.43 | $864.69 | $1,476.12 | $112,015.24 | |
| Feb, 2026 | 23 | $606.75 | $869.37 | $1,476.12 | $111,145.86 | |
| Mar, 2026 | 24 | $602.04 | $874.08 | $1,476.12 | $110,271.78 | |
| Apr, 2026 | 25 | $597.31 | $878.82 | $1,476.12 | $109,392.96 | |
| May, 2026 | 26 | $592.55 | $883.58 | $1,476.12 | $108,509.38 | |
| Jun, 2026 | 27 | $587.76 | $888.36 | $1,476.12 | $107,621.02 | |
| Jul, 2026 | 28 | $582.95 | $893.18 | $1,476.12 | $106,727.84 | |
| Aug, 2026 | 29 | $578.11 | $898.01 | $1,476.12 | $105,829.83 | |
| Sep, 2026 | 30 | $573.24 | $902.88 | $1,476.12 | $104,926.95 | |
| Oct, 2026 | 31 | $568.35 | $907.77 | $1,476.12 | $104,019.18 | |
| Nov, 2026 | 32 | $563.44 | $912.69 | $1,476.12 | $103,106.49 | |
| Dec, 2026 | 33 | $558.49 | $917.63 | $1,476.12 | $102,188.86 | |
| Jan, 2027 | 34 | $553.52 | $922.60 | $1,476.12 | $101,266.26 | |
| Feb, 2027 | 35 | $548.53 | $927.60 | $1,476.12 | $100,338.66 | |
| Mar, 2027 | 36 | $543.50 | $932.62 | $1,476.12 | $99,406.04 | |
| Apr, 2027 | 37 | $538.45 | $937.67 | $1,476.12 | $98,468.37 | |
| May, 2027 | 38 | $533.37 | $942.75 | $1,476.12 | $97,525.61 | |
| Jun, 2027 | 39 | $528.26 | $947.86 | $1,476.12 | $96,577.75 | |
| Jul, 2027 | 40 | $523.13 | $952.99 | $1,476.12 | $95,624.76 | |
| Aug, 2027 | 41 | $517.97 | $958.16 | $1,476.12 | $94,666.60 | |
| Sep, 2027 | 42 | $512.78 | $963.35 | $1,476.12 | $93,703.26 | |
| Oct, 2027 | 43 | $507.56 | $968.56 | $1,476.12 | $92,734.69 | |
| Nov, 2027 | 44 | $502.31 | $973.81 | $1,476.12 | $91,760.88 | |
| Dec, 2027 | 45 | $497.04 | $979.09 | $1,476.12 | $90,781.80 | |
| Jan, 2028 | 46 | $491.73 | $984.39 | $1,476.12 | $89,797.41 | |
| Feb, 2028 | 47 | $486.40 | $989.72 | $1,476.12 | $88,807.69 | |
| Mar, 2028 | 48 | $481.04 | $995.08 | $1,476.12 | $87,812.60 | |
| Apr, 2028 | 49 | $475.65 | $1,000.47 | $1,476.12 | $86,812.13 | |
| May, 2028 | 50 | $470.23 | $1,005.89 | $1,476.12 | $85,806.24 | |
| Jun, 2028 | 51 | $464.78 | $1,011.34 | $1,476.12 | $84,794.90 | |
| Jul, 2028 | 52 | $459.31 | $1,016.82 | $1,476.12 | $83,778.08 | |
| Aug, 2028 | 53 | $453.80 | $1,022.33 | $1,476.12 | $82,755.76 | |
| Sep, 2028 | 54 | $448.26 | $1,027.86 | $1,476.12 | $81,727.89 | |
| Oct, 2028 | 55 | $442.69 | $1,033.43 | $1,476.12 | $80,694.46 | |
| Nov, 2028 | 56 | $437.10 | $1,039.03 | $1,476.12 | $79,655.43 | |
| Dec, 2028 | 57 | $431.47 | $1,044.66 | $1,476.12 | $78,610.78 | |
| Jan, 2029 | 58 | $425.81 | $1,050.32 | $1,476.12 | $77,560.46 | |
| Feb, 2029 | 59 | $420.12 | $1,056.00 | $1,476.12 | $76,504.46 | |
| Mar, 2029 | 60 | $414.40 | $1,061.72 | $1,476.12 | $75,442.73 | |
| Apr, 2029 | 61 | $408.65 | $1,067.48 | $1,476.12 | $74,375.26 | |
| May, 2029 | 62 | $402.87 | $1,073.26 | $1,476.12 | $73,302.00 | |
| Jun, 2029 | 63 | $397.05 | $1,079.07 | $1,476.12 | $72,222.93 | |
| Jul, 2029 | 64 | $391.21 | $1,084.92 | $1,476.12 | $71,138.01 | |
| Aug, 2029 | 65 | $385.33 | $1,090.79 | $1,476.12 | $70,047.22 | |
| Sep, 2029 | 66 | $379.42 | $1,096.70 | $1,476.12 | $68,950.52 | |
| Oct, 2029 | 67 | $373.48 | $1,102.64 | $1,476.12 | $67,847.88 | |
| Nov, 2029 | 68 | $367.51 | $1,108.61 | $1,476.12 | $66,739.26 | |
| Dec, 2029 | 69 | $361.50 | $1,114.62 | $1,476.12 | $65,624.64 | |
| Jan, 2030 | 70 | $355.47 | $1,120.66 | $1,476.12 | $64,503.99 | |
| Feb, 2030 | 71 | $349.40 | $1,126.73 | $1,476.12 | $63,377.26 | |
| Mar, 2030 | 72 | $343.29 | $1,132.83 | $1,476.12 | $62,244.43 | |
| Apr, 2030 | 73 | $337.16 | $1,138.97 | $1,476.12 | $61,105.46 | |
| May, 2030 | 74 | $330.99 | $1,145.14 | $1,476.12 | $59,960.33 | |
| Jun, 2030 | 75 | $324.79 | $1,151.34 | $1,476.12 | $58,808.99 | |
| Jul, 2030 | 76 | $318.55 | $1,157.58 | $1,476.12 | $57,651.41 | |
| Aug, 2030 | 77 | $312.28 | $1,163.85 | $1,476.12 | $56,487.57 | |
| Sep, 2030 | 78 | $305.97 | $1,170.15 | $1,476.12 | $55,317.42 | |
| Oct, 2030 | 79 | $299.64 | $1,176.49 | $1,476.12 | $54,140.93 | |
| Nov, 2030 | 80 | $293.26 | $1,182.86 | $1,476.12 | $52,958.07 | |
| Dec, 2030 | 81 | $286.86 | $1,189.27 | $1,476.12 | $51,768.80 | |
| Jan, 2031 | 82 | $280.41 | $1,195.71 | $1,476.12 | $50,573.09 | |
| Feb, 2031 | 83 | $273.94 | $1,202.19 | $1,476.12 | $49,370.91 | |
| Mar, 2031 | 84 | $267.43 | $1,208.70 | $1,476.12 | $48,162.21 | |
| Apr, 2031 | 85 | $260.88 | $1,215.25 | $1,476.12 | $46,946.96 | |
| May, 2031 | 86 | $254.30 | $1,221.83 | $1,476.12 | $45,725.14 | |
| Jun, 2031 | 87 | $247.68 | $1,228.45 | $1,476.12 | $44,496.69 | |
| Jul, 2031 | 88 | $241.02 | $1,235.10 | $1,476.12 | $43,261.59 | |
| Aug, 2031 | 89 | $234.33 | $1,241.79 | $1,476.12 | $42,019.80 | |
| Sep, 2031 | 90 | $227.61 | $1,248.52 | $1,476.12 | $40,771.28 | |
| Oct, 2031 | 91 | $220.84 | $1,255.28 | $1,476.12 | $39,516.01 | |
| Nov, 2031 | 92 | $214.05 | $1,262.08 | $1,476.12 | $38,253.93 | |
| Dec, 2031 | 93 | $207.21 | $1,268.91 | $1,476.12 | $36,985.01 | |
| Jan, 2032 | 94 | $200.34 | $1,275.79 | $1,476.12 | $35,709.22 | |
| Feb, 2032 | 95 | $193.42 | $1,282.70 | $1,476.12 | $34,426.52 | |
| Mar, 2032 | 96 | $186.48 | $1,289.65 | $1,476.12 | $33,136.88 | |
| Apr, 2032 | 97 | $179.49 | $1,296.63 | $1,476.12 | $31,840.25 | |
| May, 2032 | 98 | $172.47 | $1,303.66 | $1,476.12 | $30,536.59 | |
| Jun, 2032 | 99 | $165.41 | $1,310.72 | $1,476.12 | $29,225.87 | |
| Jul, 2032 | 100 | $158.31 | $1,317.82 | $1,476.12 | $27,908.06 | |
| Aug, 2032 | 101 | $151.17 | $1,324.96 | $1,476.12 | $26,583.10 | |
| Sep, 2032 | 102 | $143.99 | $1,332.13 | $1,476.12 | $25,250.97 | |
| Oct, 2032 | 103 | $136.78 | $1,339.35 | $1,476.12 | $23,911.62 | |
| Nov, 2032 | 104 | $129.52 | $1,346.60 | $1,476.12 | $22,565.02 | |
| Dec, 2032 | 105 | $122.23 | $1,353.90 | $1,476.12 | $21,211.12 | |
| Jan, 2033 | 106 | $114.89 | $1,361.23 | $1,476.12 | $19,849.89 | |
| Feb, 2033 | 107 | $107.52 | $1,368.60 | $1,476.12 | $18,481.29 | |
| Mar, 2033 | 108 | $100.11 | $1,376.02 | $1,476.12 | $17,105.27 | |
| Apr, 2033 | 109 | $92.65 | $1,383.47 | $1,476.12 | $15,721.80 | |
| May, 2033 | 110 | $85.16 | $1,390.96 | $1,476.12 | $14,330.84 | |
| Jun, 2033 | 111 | $77.63 | $1,398.50 | $1,476.12 | $12,932.34 | |
| Jul, 2033 | 112 | $70.05 | $1,406.07 | $1,476.12 | $11,526.27 | |
| Aug, 2033 | 113 | $62.43 | $1,413.69 | $1,476.12 | $10,112.58 | |
| Sep, 2033 | 114 | $54.78 | $1,421.35 | $1,476.12 | $8,691.23 | |
| Oct, 2033 | 115 | $47.08 | $1,429.05 | $1,476.12 | $7,262.18 | |
| Nov, 2033 | 116 | $39.34 | $1,436.79 | $1,476.12 | $5,825.40 | |
| Dec, 2033 | 117 | $31.55 | $1,444.57 | $1,476.12 | $4,380.83 | |
| Jan, 2034 | 118 | $23.73 | $1,452.39 | $1,476.12 | $2,928.43 | |
| Feb, 2034 | 119 | $15.86 | $1,460.26 | $1,476.12 | $1,468.17 | |
| Mar, 2034 | 120 | $7.95 | $1,468.17 | $1,476.12 | $0.00 | |
What is a commercial loan?
A commercial loan is a loan that a business uses to fund major capital expenditures or to cover operational costs. The company then makes monthly payments to repay the loan.
How does a commercial loan work?
There are many different types of commercial loans, some are used to fund small businesses and others are to help real estate investors buy commercial properties. There are commercial loans with fixed and variable interest rates, and their terms are different. Commercial loans are often short-term loans and the borrowers are required to pay off the loan within a few years. Some commercial loans use balloon payment where the business makes interest-only payments during the initial period, once this period is over, the business is required to pay off the loan balance as a lump sum payment. Balloon payments are riskier than traditional installment payments because of the large one-time payment at the end. Therefore, lenders only approve commercial balloon loans to trusted businesses with good credit scores and strong financial backgrounds. A business must generate enough income or have positive cash flows to qualify for these balloon loans.
Types of Commercial Loans
There are many kinds of commercial loans, each serving a different need.
1. Business Line of Credit
A business line of credit is a type of commercial loan very similar to a credit card. A business is given a line of credit which is the maximum amount of money it can use. The business can then draw from the pool of money whenever it needs. The business will only need to pay interest on the amount it uses, not the maximum amount. When the business draws money from the business line of credit, the amount of money it can use decreases until the business pays off the balance.
2. Equipment Loan
For many businesses, buying and upgrading their equipment is a necessary part of doing business. However, the equipment may be too expensive for new businesses or drain up too much capital. That's when an equipment loan comes in handy. The company can get an equipment loan to purchase the equipment and repay the loan when the money rolls in.
3. Commercial Real Estate Loan
Real estate investors often use commercial real estate loans to fund the purchase of commercial properties. Borrowers use this type of loan to buy properties as an investment or as a business space. Some companies use commercial real estate loans to buy apartments and commercial builds to generate rental income.
4. Construction Loan
Construction loans are a type of real estate loan used to cover labor costs and materials in building construction. Construction loans are short-term loans ranging between 18 to 36 months. Once the construction is completed, the borrower can refinance the loan into a traditional mortgage or pay it off.
5. Hard Money Loan
A hard money loan is another type of real estate loan offered not by banks, but by private investors. Hard money loans are a popular choice among fix and flip property investors. Hard money loans are short-term loans with very high interest rates.
6. Bridge Loan
A bridge loan is a short-term real estate loan offered by banks. A bridge loan is similar to a hard money loan that real estate investors use for home improvements and construction. Bridget loan has a lower interest rate than a hard money loan, but it has a stricter credit score & down payment requirements.
7. SBA Loan
The U.S. Small Business Administration or SBA offers a few different types of loans for small businesses, SBA 7(a) loan, SBA 504 loan, SBA Express loans, and microloans. Each of these loans has its own standards, requirements, and usage. SBA loans are not offered by the SBA directly, the loans go through a local lender that offers SBA loans and is backed by the SBA.
How to get a commercial loan?
First, you need to know why you need a commercial loan and what you are going to use the loan for. Are you a small business looking to expand your business, a house flipper who needs money to purchase your next property, or a long-term real estate investor who is interested in buying properties to generate a rental income? Once you figure out what you need the loan for, you can then determine what type of loan you need. The next step would be to contact the banks or private investors and show them your plan and show them your financial background or bank statements. If you need a commercial loan from the bank, you will need a good credit score, a down payment, collateral, and financial statements to show that you or your business is in good financial standing. Provide the lenders with all the necessary documents they ask for and wait for the approval.
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