The Start Up Loan Calculator helps you to work out the monthly repayment amounts on a Start Up Loan.
Using the sliders below will alter the total amount of money you’d like to borrow and the repayment period. The calculator will then show an illustration* of the monthly amount repayable on a Start Up Loan as well as the total amount you will repay, including the interest.
– Start Up Loans are available from £500 to £25,000 at a fixed 6% interest p.a.
– You can repay over a period of one to five years
A shorter repayment period will mean you will pay less interest overall but your monthly repayments will be greater. A longer repayment period will mean that you pay more interest overall but your monthly repayments will be lower. It is worth considering the impact that a shorter or longer repayment period could have on the cashflow within your business.
Using the Start Up Loan calculator does not commit you to the amount and repayment term you enter. After making an application we will assign you a business advisor. Part of their role is to help you determine what you need the loan for, how much to borrow and over what period to repay it.
*The calculator is for illustrative purposes only. Start Up Loans are personal loans for business use only and subject to status. The monthly repayment amounts quoted are estimates which may increase or decrease slightly depending on the number of days between approval and when the loan is advanced.