How to Compare Business Loans the Right Way
Don't just compare interest rates. A lower rate over a longer term can actually cost you more than a slightly higher rate over a shorter term. Enter up to 3 loan offers, and this tool instantly calculates monthly payment, total interest, and total cost for each — so you can see which loan is genuinely the cheapest.
Pay attention to the total cost column — that is the real number that matters. And make sure the monthly payment fits your cash flow. Use our Cash Flow Calculator to check before you commit.
Want the full breakdown? Read our detailed guide: Business Loan Comparison Guide 2026 →
FAQ: Frequently Asked Questions
Enter up to 3 loan offers with their amount, interest rate, and term. The tool calculates monthly payment, total interest, and total cost for each loan side-by-side so you can instantly see which loan is cheapest overall — not just which has the lowest rate.
Total interest is the sum of all interest payments over the loan term. Total cost includes the original loan amount PLUS all interest and fees (like origination fees). A loan with $6,000 interest and $1,000 fees has a total cost of $7,000.
Yes! The math is identical for any fixed-rate installment loan. Just enter the loan amount, interest rate, and term in years. For mortgages with PMI or property taxes, those would need to be factored separately.
Quick Answer
A $200,000, 30-year loan at 5% APR totals $386,000 — but at 4% APR it drops to $349,000, saving $37,000. For 2026 borrowers with excellent credit (720+), AI-driven loan matching can find rates 0.75% lower on average than traditional bank rates. Use the BizCalcLab Loan Comparison Tool to see the real cost of your loan options side-by-side.