How to use the loan or line of credit calculator

What it does: Compare a term loan and a line of credit on the same amount, including fees and how long each one takes to pay off.

When to use it: Use it before you apply for or accept a loan or line of credit, so you know the real cost and monthly payment.

Start with the example numbers to see how it works.
Replace them with your own figures from your bank statements, invoices, or bookkeeping. Estimates are fine.
Read the plain-language result at the top, then change one number at a time to see what moves it most.

The calculator is free, needs no account, and doesn't store what you type.

Loan or line of credit calculator