Slateshire Finance offers this loan payment calculator for contractors and other business owners in Sanford, NC. It estimates the monthly payment, total interest and total amount repaid on a fixed-rate term loan from figures you enter. It does not quote rates or make offers, and it does not model lines of credit or cash flow, which are explained by hand below.
What the calculator computes
- Monthly payment on a fully amortizing, fixed-rate loan
- Total interest across every month of the term
- Total repaid: the amount plus total interest
Use the rate and term from an actual offer, or test a range of your own assumptions. The calculator does not know what any partner would offer, and nothing it shows is an offer.
Using it as a construction business loan calculator
For a contractor, two uses are an equipment purchase and a term loan for a shop, yard or buyout. Enter the price or project cost as the amount and the term from the quote. Then compare the monthly payment with what the machine or project adds to monthly revenue. The contractor funding page explains which structure fits which need.
For a short-term business loan, enter a short term in months; for a small business term loan over several years, a longer one. The math is the same.
Construction line of credit: work it out by hand
A line of credit does not have a fixed schedule, so this calculator cannot model it. A rough monthly interest cost on a line is the balance you expect to carry multiplied by the annual rate, divided by 12. If you expect to carry a balance for two months between draws, multiply by two.
Lines can have their own charges and minimum payments too; read the partner's terms for the full cost.
Contractor cash flow: a by-hand worksheet
This page does not compute cash flow either, but the arithmetic is a running total:
- List each week's payroll, materials and other costs for the job.
- List the dates and amounts you expect each draw or payment, minus any retainage.
- Keep a running total: costs out, payments in.
- The deepest point of that running total is the gap you need to fund.
That figure is what a working capital request or a line should cover. Test a matching term loan amount in the calculator if you are considering one; the term loan page explains when that structure fits.
Next step
When the numbers make sense, start a request. Other guides are listed on the resources page.
