Shorerock Loans, a small-business funding service in Marietta, Georgia, provides a loan amortization calculator for Cobb County owners comparing term loan offers. It estimates payment, interest and total paid from an amount, rate and term; it is not an offer.
At a glance
- Inputs
Amount, annual rate, term in months
- Outputs
Monthly payment, total interest, total paid
- Not included
Fees, prepayment terms, factor-rate products
Business Loan Amortization Calculator in Marietta, GA
- Amount: the sum borrowed, after any fees are deducted if you want the true cost
- Annual rate: the interest rate stated in the offer
- Term: how many monthly payments the offer lists
Illustration only, invented figures: $80,000 at 11% over 48 months gives about $2,067.64 a month and $99,247 paid in total (our arithmetic, standard amortization formula).
What Is Loan Amortization? Explained for Marietta, GA Owners
Amortization spreads a loan into equal payments, each split between interest on the remaining balance and repayment of principal. Interest dominates the first payments and principal the last ones. The schedule shows exactly how much of the balance remains after each payment.
Term Loan Amortization for Cobb County, GA Businesses
Use the calculator to compare two offers on the same amount: the one with the lower monthly payment may cost more in total if its term is longer. For a practice purchase or an office build-out, see the term loans page for what a partner reviews.
Loan Term vs Amortization Around Marietta, GA
The term is how long the loan runs; the amortization period is the schedule the payments are calculated on. When they match, the loan is fully paid at the end. When the amortization is longer than the term, a balance, sometimes called a balloon, remains at the end and must be paid or refinanced. Ask whether an offer has one.
Factor Rate Amortization
Products priced with a factor rate, such as merchant cash advances, do not amortize. The total to be remitted is fixed at the start (advance x factor), so paying ahead of schedule does not reduce the cost. This calculator is for interest-bearing loans; for an advance, multiply the advance by the factor and compare that total with a loan's total paid.
Testing the payment against a Cobb County, GA business's deposits
Compare the monthly payment with your average monthly deposits minus existing payments. If the payment takes most of what is left, the amount or term may need rethinking. The property return, license and zoning guides are on the guides page.
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