Personal Loan Calculator
Why business owners run this calculation
A business that is under two years old, or thin on documented revenue, often cannot qualify on its own yet. Owners routinely bridge that stage with a personal loan for startup costs, inventory or a first piece of equipment, then refinance into business credit once the company has its own track record.
The math also transfers directly. Unsecured business loans are priced the same way - a stated rate plus an origination fee taken at funding - so this calculator is the right tool for comparing those offers too.
How the payment and the true APR are calculated
The payment comes from the standard amortization formula: a fixed amount each month, part interest and part principal, with the interest share largest at the start. The origination fee does not change that payment. What it changes is the cash you receive, and financing $25,000 while only receiving $24,000 is what pushes the effective APR above the stated rate.
Comparing two offers on stated rate alone is therefore misleading. Compare the APR with the fee included, which is what the calculator reports.
Personal loan or business line of credit?
A personal loan suits a known, one-time cost: a build-out, a vehicle, a specific equipment purchase. You take the money once and the payment never changes.
A line of credit suits recurring or unpredictable gaps - payroll timing, seasonal inventory, a slow-paying customer - because you draw only what you need and pay interest only on the drawn balance. Owners with both a fixed project and a working-capital gap often need one of each.
Worked example
A $25,000 loan at 12% over 36 months has an $830 monthly payment and $4,893 in total interest. Add a 4% origination fee and you receive $24,000 rather than $25,000, which puts the effective APR near 14.9%. That is why a 12% offer with a fee can cost more than a 13% offer without one.
Where to go from here
Local help in Irving, TX
- Small Business Loans in Irving
- Short-Term Business Loans in Irving
- Business Lenders Near Me in Irving
- Working Capital Loans in Irving
Last reviewed September 10, 2026. Methodology: standard amortization formula; the APR figure solves for the rate that equates the cash received, net of the origination fee, to the stream of payments. Estimates only - not financial advice or a loan offer.