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Microloan Financing CalculatorFree online financial calculator — instant results, no sign-up

Calculate amortizing microloan payments and total cost including an upfront fee.

Inputs

$
%
months
$
Monthly payment
$491.08
Total interest$2,678.91
Total including upfront fee$17,978.91

Estimates only, based on the inputs and assumptions shown. This is not financial, investment, tax, or legal advice. Prices, rates and local rules may change; crypto scenarios do not predict returns. Confirm important decisions with a qualified professional.

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About the Microloan Financing Calculator

The Microloan Financing Calculator estimates the monthly payment and total borrowing cost of an amortizing business microloan, including a separate upfront fee. It uses the loan principal, annual interest rate, and term in months to calculate payments, then adds the upfront fee to the total repaid. For the default $15,000 loan at 11% over 36 months with a $300 upfront fee, the monthly payment is $491.08.

Loan principal ($)
The amount borrowed in dollars, excluding the separately paid upfront fee, with a default of $15,000.
Annual rate (%)
The fixed annual interest rate expressed as a percentage, with a default of 11%.
Term (months)
The number of monthly payments used to repay the loan in full, with a default of 36 months.
Upfront fee ($)
The one-time fee paid separately in dollars at the start of the loan, with a default of $300.

Formula and method

r = a / (100 × 12); M = P × r / [1 − (1 + r)^(−n)]; I = n × M − P; T = n × M + F = P + I + F. If a = 0, use M = P / n.
  • PLoan principal in dollars.
  • aAnnual interest rate entered as a percentage, such as 11 for 11%.
  • rMonthly interest rate expressed as a decimal.
  • nLoan term in months and total number of monthly payments.
  • MMonthly principal-and-interest payment in dollars.
  • FSeparate upfront fee in dollars.
  • ITotal interest paid over the loan term in dollars, excluding the upfront fee.
  • TTotal dollars paid, including principal, interest, and the upfront fee.

Convert the annual percentage rate input to a monthly decimal interest rate by dividing by 100 and then by 12. Apply the standard fixed-payment amortization formula to the principal over the specified number of months. Multiply the unrounded monthly payment by the term and subtract the principal to obtain total interest; add the upfront fee to total scheduled payments to obtain the total including the fee. Round displayed dollar results to cents. With P = $15,000, a = 11%, n = 36, and F = $300, the results are a $491.08 monthly payment, $2,678.91 in total interest, and $17,978.91 total including the upfront fee.

Worked example

These are the calculator's starting values and the results it actually produces for them.

Inputs

  • Loan principal15000 $
  • Annual rate11 %
  • Term36 months
  • Upfront fee300 $

Results

  • Monthly payment$491.08
  • Total interest$2,678.91
  • Total including upfront fee$17,978.91

How to use the Microloan Financing Calculator

  1. 1Enter the loan principal in dollars; use $15,000 to reproduce the default example.
  2. 2Enter the annual interest rate as a percentage; the default is 11%.
  3. 3Enter the repayment term in whole months; the default is 36 months.
  4. 4Enter the separately paid upfront fee in dollars; the default is $300.
  5. 5Calculate and review the monthly payment, total interest, and total including the upfront fee to assess the payment commitment and overall cash outlay.

Reading your result

Monthly payment is the regular principal-and-interest installment: $491.08 in the default example, excluding the separately paid upfront fee. Total interest is the interest accumulated across the full repayment term: $2,678.91, excluding principal and the fee. Total including upfront fee is the complete scheduled cash outlay: $17,978.91, including the $15,000 principal, $2,678.91 interest, and $300 fee; it is not just the financing charge.

Limitations

The estimate assumes a fixed interest rate, equal monthly payments made at the end of each month, and repayment in full over the entered term. The upfront fee is paid separately, not financed or deducted from the stated principal. The annual rate input is treated as a nominal interest rate divided by 12, not a fee-inclusive APR. Results exclude other fees, insurance, taxes, late charges, prepayment effects, and irregular payment schedules. Lender day-count conventions and payment rounding can cause small differences, including an adjusted final payment. Use a positive principal, a positive whole-number term, and nonnegative rate and fee inputs.

Common questions

Does the $300 upfront fee increase the monthly microloan payment?+

No. This calculator treats the $300 fee as a separate initial payment, so the default monthly installment remains $491.08. The fee is included in the $17,978.91 total cash outlay.

Why does multiplying the displayed $491.08 payment by 36 not reproduce the total exactly?+

The displayed payment is rounded to cents, while totals use the unrounded payment. Multiplying the rounded display can therefore differ slightly from the reported $2,678.91 interest and $17,978.91 total including the fee.

Is the default 11% rate the microloan's fee-inclusive APR?+

No. The calculator uses 11% as the annual interest rate for amortization and adds the $300 fee separately. It does not calculate a fee-inclusive APR; consult the lender's disclosures when comparing offers.

Can I use this calculation if my lender rolls the upfront fee into the loan?+

The default treatment does not model a financed fee. If the fee is fully financed, enter the lender's full financed balance as the principal and enter zero for the separately paid upfront fee to avoid counting it twice. The payment will then include interest on that financed balance.

Does the calculator save my information?+

Calculations run in your browser. While signed in, inputs and results are automatically recorded in account history; saving a result creates a separate saved record.

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Results are estimates for informational purposes and are not financial, medical or legal advice.