Which rate do I enter: interest rate, flat rate or factor rate?
Whichever your quote uses. Bank-style quotes give an annual interest rate on the reducing balance. Many non-bank lenders quote a simple (flat) annual rate, and short-term lenders often quote a factor rate like 1.18. The calculator handles all three; just match the setting to the wording on your quote.
What establishment fee should I assume?
Establishment fees on business loans typically run between 3% and 5% of the loan amount, and are usually deducted from the funds advanced rather than billed separately. If your quote states an exact fee, use that figure.
Why do you show a 'true effective rate' as well as the repayment?
Because two loans with the same repayment can have very different real costs once fees and the repayment schedule are counted. The effective rate prices the deal on the cash you actually receive, which makes quotes directly comparable. Most calculators leave it out; we think you should see it.
Are business loan repayments usually weekly or monthly?
Non-bank business lenders most commonly debit weekly or daily on business days; banks usually debit monthly. Your contract states the frequency, and it changes the numbers, so the calculator lets you set it.
Does using this calculator affect my credit score?
No. Nothing here is saved, sent to a lender, or connected to a credit bureau. Even a full eligibility check with Funding Loop involves no credit check until you choose to proceed with a specific lender.
