The equipment loan calculator is an estimation tool that provides a range of possibilities depending on the loan amount, interest rate and term selected.
We encourage you to experiment with our equipment calculator. Input different interest rates and repayment periods to see how your payment is affected. Terms can be adjusted on the equipment finance calculator to increase or decrease your payment, for example.
Here are the steps to follow when you’re ready to estimate your payment:
Step 1: Enter the total value of the equipment you plan to finance.
Step 2: Enter the estimated interest rate into the equipment finance calculator. These rates typically fall within the 8% to 24% range depending on your unique business qualifications and down payment.
Step 3: Select the length of financing in months. Your term will depend on your business’s eligibility. Typically equipment loan terms range from 12-72 months.
Step 4: Calculate. The equipment financing calculator will output the monthly payment.
Keep in mind, you may be charged a one-time loan origination fee, which is an upfront cost when the loan is funded. These are not factored into the equipment loan calculator results.
Note: This equipment loan calculator is built to estimate the terms of equipment loans for purchases. It does not function as an equipment lease calculator and cannot provide equipment lease payment estimates.
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