M
muckell
- Original Poster
- #1
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
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
