Enter an amount, an annual rate and a term to see a level monthly payment. The sections below cover when the equipment or advance calculator fits better, and two checks to do by hand: working capital and DSCR.
When Mountain Home, ID sit-down restaurants should use an equipment loan calculator instead
This calculator has no down payment field. When a sit-down restaurant is pricing a range, a convection oven or a walk-in, the calculator on the equipment financing page fits better, because it subtracts cash down before working out the payment.
Illustration only, invented figures: a $24,000 range and convection oven at an annual rate of 9.75% over 48 months costs $605.82 a month with nothing down. With $4,000 down, the amount financed is $20,000 and the payment drops to $504.85. Entering $20,000 here gives the same payment, but the equipment calculator also adds the down payment back into the total paid.
Elmore County, ID had 18 full-service restaurants in 2023 (County Business Patterns); a diner kitchen replacing one piece at a time can run each quote through the equipment calculator before calling.
Working capital loan calculator: a second check for Elmore County, ID sit-down restaurants
A working capital loan has a level payment like any term loan, so this calculator gives its monthly cost. The second check is whether the business can carry it, and that has to be done by hand.
Illustration only, invented figures: price $16,000 at an annual rate of 14% for 12 months and the calculator shows $1,436.59 a month, with $1,239.08 of interest across the year. Now the hand check: with $58,000 of current assets against $41,000 of current liabilities, the restaurant’s current ratio is 1.41. If the money covers a $6,900 biweekly payroll through a 30-day gap, 2 or 3 payrolls fall inside it, so $13,800 to $20,700.
The calculator does not compute the ratio or the payroll count; it only prices the payment. Put both figures in the request so a partner can see the gap the loan fills.
DSCR commercial loan calculator vs this one: which fits a Mountain Home, ID auto shop
A DSCR (debt service coverage ratio) calculator divides a business’s net operating income by its annual debt payments. This calculator does not compute it, but it gives one piece of it: the payment.
Illustration only, invented figures: an auto shop with $96,000 of yearly net operating income looks at $180,000 over 84 months at an annual rate of 9.5%. This calculator gives $2,941.92 a month; times 12, that is $35,303.04 of annual debt service. Divided into $96,000, the DSCR is 2.72. Any existing payments belong in the annual figure too.
A partner sets its own coverage requirement. For the 11 auto repair and maintenance employers in Elmore County, ID (County Business Patterns 2023), a mobile-column lift is the kind of cost where that ratio can be checked; fixed bay additions are excluded.
Factor rate calculator vs this one: which fits a Mountain Home, ID auto shop
A factor rate calculator prices a merchant cash advance, which is not a loan and has no annual rate. The total a provider collects is simply the advance times the factor, and whatever sits above the advance is the price. This page uses an annual rate, so it does not fit an advance.
Illustration only, invented figures: when a provider hands over $12,000 against a 1.35 factor, it takes back $16,200 in total, and the $4,200 gap is the price of that money. The calculator on the merchant cash advance page takes the advance, the factor, a holdback percentage and daily card sales, and returns the total, the cost and the business days to collect.
Auto shops, child care centers and finishing crews weighing both can run the advance there and a term loan or line here, then compare the costs side by side. The working capital page covers the loan side. Once the numbers look workable, the application page explains what to send.
More checklists for getting a request ready are on the resources page.
By Ledgeford Business Loans · Updated