Business loans
Type in the amount, rate and years. You’ll see your monthly payment and total interest right away.
Business loans
Type in the amount, rate and years. You’ll see your monthly payment and total interest right away.
The short answer
Your monthly payment$2,001
Total interest$20,085
Total you pay back$120,085
Get real offers for this loanThis is an estimate for a loan with equal monthly payments. Your real offer may be different.
The results change as you type.
Here is a $100,000 loan at 7.45%:
| Years | Monthly payment | Total interest |
|---|---|---|
| 3 years | $3,108 | $11,900 |
| 5 years | $2,001 | $20,085 |
| 10 years | $1,184 | $42,129 |
A longer loan gives you a smaller payment each month. But you pay more interest in the end. Pick the shortest length that still lets you pay bills comfortably.
Lenders look at how much cash your business has left after its costs. Then they compare it to your loan payments.
Most business rates start with the bank’s prime rate. In October 2026, prime at Canada’s big banks is 4.45%. The lender adds more based on risk. Read how business loan rates work.
Want real numbers for your business? Get offers from our lending partners, side by side.
It uses the amount, the yearly interest rate and the number of months. Each payment covers that month’s interest plus part of the loan.
It gives a smaller monthly payment, which can help cash flow. But you pay more interest overall. Choose the shortest length you can comfortably afford.
Use the rate from your offer if you have one. If not, our default is prime plus 3%, the highest rate allowed on a floating-rate CSBFP loan.
No. It only shows principal and interest. Ask your lender for the full cost of your loan.
Keep reading
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3 min readWhat credit score do you need for a business loan in Canada? There’s no single number. Here’s what lenders look for, the score ranges, and how to raise yours.
Read the articleTalk to a specialist
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