The calculator takes an amount, an annual rate and a term in months, and shows the monthly repayment, the total interest and the total repaid. The sections show a kitchen equipment example, an equipment loan with money down, a materials invoice and a debt service coverage check worked by hand.
What the loan repayments calculator on this page works out for a Hopkinsville, KY sit-down restaurant
Type in the dollars wanted, the yearly rate as a percent, and how many months the loan runs. The calculator returns the estimated monthly repayment, the total interest and the total repaid, all from a level payment that stays the same every month.
Illustration only, invented figures: a Hopkinsville, KY sit-down restaurant prices $15,600 for a reach-in freezer, a dish machine and a countertop fryer at an 11.45% annual rate. The table shows the invented repayment at three terms, with totals worked from the rounded payment.
| Term | Monthly repayment | Interest | Total repaid |
|---|---|---|---|
| 24 months | $730.35 | $1,928.40 | $17,528.40 |
| 36 months | $514.05 | $2,905.80 | $18,505.80 |
| 48 months | $406.61 | $3,917.28 | $19,517.28 |
One check before trusting a result: the term box takes months. Typing 3 for three years gives an invented repayment of $5,299.55 instead of $514.05, far too high, because the calculator reads it as three months.
Prep tables and a reach-in cooler for a Hopkinsville, KY sit-down restaurant, run as an equipment loan
For this calculator an equipment loan is a loan like any other, with one extra step when there is money down: enter the price minus the down payment as the amount. Over on the equipment financing page, the calculator asks for the down payment on its own line.
Illustration only, invented figures: stainless prep tables and a plug-in reach-in cooler cost $8,940, the restaurant puts $900 down, and $8,040 goes into the amount box at a 9.9% annual rate over 48 months. The invented repayment is $203.53, and the 48 repayments total $9,769.44 on top of the down payment.
Working capital loan calculator: a Hopkinsville, KY home builder's materials invoice over 9 or 12 months
A working capital loan runs on the same arithmetic, just over a shorter term. The calculator shows how much the term changes the monthly cost and the interest.
| Term | Monthly repayment | Interest | Total repaid |
|---|---|---|---|
| 9 months | $2,503.81 | $1,234.29 | $22,534.29 |
| 12 months | $1,909.46 | $1,613.52 | $22,913.52 |
In this invented case, a home builder covering a $21,300 lumber and cabinet invoice between draws cuts the monthly repayment by $594.35 with the longer term, and pays $379.23 more interest for it.
When Hopkinsville, KY physician offices need a DSCR check instead of a payment figure
The calculator gives a repayment; it does not work out a debt service coverage ratio. That ratio divides a year of net operating income by a year of debt payments, and a partner may use it to see how much room the income leaves. The case below is worked by hand.
Illustration only, invented figures: a physician office has $96,000 of yearly net operating income and already pays $2,150 a month on other debt. A new $45,500 loan at a 10.85% annual rate over 60 months adds an invented $985.88 a month, so a year of debt payments becomes $37,630.56.
Dividing $96,000 by $37,630.56 gives an invented ratio of 2.55, down from 3.72 before the new loan. Each partner sets its own view of what ratio is enough, so the number is a way to prepare for the conversation, not a pass mark.
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