Why compare fast business loans in dollars?
Short-term and private business loans are priced on the borrower's circumstances — the security, the term, the purpose, the exit and the risk. Two offers can look similar and still cost very different amounts once establishment fees, legal costs, valuations and exit fees are added. The only comparison that holds up is the total dollar cost against what the funding achieves.
This calculator deliberately doesn't suggest a rate or fill in typical fees. Your offer document, or the lender's written quote, has the figures. Put them in, and the calculator does the arithmetic: total cost, cost per month, cost per day and cost per $1,000 borrowed.
Reading the results
- Total cost of finance is every fee plus the total interest — the true price of the money.
- Cost per month and per day help when a loan is short or might be repaid early. If a property sale or refinance is expected in eight weeks, the per-day figure shows what each extra week of delay costs.
- Cost per $1,000 lets you compare offers of different sizes on the same footing.
- Net funds matter if fees come out of the advance. Borrowing $200,000 with $6,000 deducted puts $194,000 in your account — make sure that still covers the bill you're paying. (Illustrative figures.)
Worked example (illustrative)
A wholesaler needs funds to take a bulk order. Offer A has lower upfront fees but a longer minimum term. Offer B has a higher establishment fee but lets the business repay as soon as the customer pays. If the customer pays in 60 days, Offer B's lower per-day cost and no minimum term can make it cheaper overall, even though its upfront fee is bigger. The calculator makes that trade-off visible in seconds — enter both offers and compare the totals.
If you don't have an offer yet, start a 60-second enquiry and a specialist will walk you through the costs of the pathway that fits.
Questions to ask before you sign
- What is the total dollar cost if I run the full term — and if I repay early?
- Are any fees deducted from the advance, and what amount lands in my account?
- Is there a minimum interest period, exit fee or discharge fee?
- What happens if the exit takes longer than planned — is there a default rate or extension fee?
- Which costs are payable even if the loan doesn't proceed, such as valuation or legal fees?
Read more in our guide to reading a fast loan offer.
Talk to a person about the numbers
A good fast loan is one where the cost is clearly worth what the money does. When you enquire there's no credit check, your details aren't shopped around to a string of lenders, and a real person explains the costs in dollars before anything is signed. Accurate answers on the form help us price the right option the first time. See if you qualify.
Frequently asked questions
Why doesn't this calculator ask for an interest rate?
Because every business loan is priced on the borrower's circumstances, and a headline rate rarely tells you what you'll actually pay. Your offer or letter of offer should show the total interest and fees in dollars — enter those figures and you'll see the real cost in plain money.
Where do I find the total interest figure?
Most offers show the interest payable over the term, or the monthly interest amount. If yours only shows a monthly figure, multiply it by the number of months. If you're unsure, ask the lender or broker to confirm the total dollar cost in writing before you sign.
What fees should I include?
Everything you'll pay to get the loan and to get out of it: establishment or application fees, valuation, the lender's legal costs, your own solicitor, broker fees, account-keeping fees, and any discharge or early-repayment fees.
What if I repay early?
Check the offer's early-repayment terms. Some short-term loans charge a minimum interest period or an exit fee; others let you save interest by repaying early. The cost-per-day figure helps you see what each extra day of borrowing is worth.
How do I know whether a loan is worth it?
Compare the total cost with what the funding achieves — the margin on a contract, a penalty or interest avoided, a discount captured, or a sale secured. Enter that figure under 'What the funding achieves' to see the net result for each offer.