Business Loan Interest Calculator Question

[muckell]

Could anyone assist, i'm looking at downloading/creating somthing in excel (whatever is easiest) to calculate the amount of interest payable on a business loan.

I'm looking for something that i can play with different "scenarios" so that i can maximise how my business is to be funded.

I've downloaded afew programs but they all seem to work on the same basis. The problem i am having trying to find a calculator is that the loan i am taking under the small firms loan guarentee scheme, so i pay a set about of capital each month (i.e this does not change as the term goes on). and the interest is charged quarterly to my current account.

I know most loans you pay say £500 each month and as the term goes on you end up paying more capital and less interest, yet the total still comes to £500.

The way my loan will work is that i will always pay say £400 capital each month, then the interest quaterly, so the amount i pay will drop as the term goes on.

I hope this makes sense, if anyone could help it would be greatfully received

REgards

cgm

[Alpha]

I've just knocked up a simple spreadsheet for you.

Please note that the interest charged is not exactly the same as a bank will charge but it will give you an idea.

I will need to know your e mail address to send it to you :)

[muckell]

I've just knocked up a simple spreadsheet for you.

Please note that the interest charged is not exactly the same as a bank will charge but it will give you an idea.

I will need to know your e mail address to send it to you :)

Thanks Alan,

That sounds perfect, i've just sent you an email with my email address in it.

Thanks again

Regards
CGM

[Alpha]

Sent :D


Just let me know if you need any changes made or it is not quite what you need.

[muckell]

Alan,

Thank you so much, that was exactly what i was after. I can now work through a couple of different funding options and see what is most beneficial.

Thanks again, really appreacaited

Regards

CGM