The SBA backs term loans, commercial real estate loans and other ways to borrow to expand your business. While it doesn’t offer loans itself, it can help your business qualify for lower rates and better repayment terms. SBA loan: The Small Business Administration (SBA) backs loans for businesses.Because the equipment acts as collateral, they tend to have lower rates than unsecured installment loans. Equipment loan: Equipment loans are term loans secured by the equipment your business needs to buy.Commercial real estate loan: If your business is ready to open a brick-and-mortar location, a commercial real estate loan gives you the funding to buy property or sign a leasee.As you pay back what you’ve borrowed, your credit limit resets and you can borrow more as needed. You can draw funds from it as needed and only pay interest on what you borrow. Line of credit: A business line of credit functions like a credit card.Let’s use the calculator on top of this page to estimate your monthly payment, interest-only payment, and total balloon payment. These are one of the most common options, and you can find them offered by both banks and online lenders. Let’s presume your commercial real estate loan is 2.5 million with 9 percent APR, with a loan term of 10 years. Installment loan: Installment loans - also known as term loans - allow your business to borrow a lump sum and pay it back in monthly payments.

You can use it to test different payment scenarios depending on your amortization period, payment frequency or the. With a few key details, the tool instantly provides you with an estimated monthly payment amount. There are countless options out there, but these are the most common types of business loans. The TD Mortgage Payment Calculator can help you better understand what your payments may look like when you borrow to buy a home.

10 year mortgage rates calculator