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BDC loan calculator

BDC loan calculator online in Canada in 2022. How to figure out the loan yourself? A handy tool that will show whether you can pay off a loan, help you choose lending with affordable payments.

Your city
Bank
Scotiabank Scotiabank
Canadian Imperial Bank Of Commerce (CIBC) Canadian Imperial Bank Of Commerce (CIBC)
Bank of Montreal Bank of Montreal
HSBC HSBC
ATB Financial ATB Financial
National Bank Of Canada National Bank Of Canada
Capital One Capital One
Tangerine Bank Tangerine Bank
Simplii Financial Simplii Financial
Laurentian Bank Of Canada Laurentian Bank Of Canada
UNI Financial Cooperation UNI Financial Cooperation
Manulife Bank Of Canada Manulife Bank Of Canada
Canadian Western Bank Canadian Western Bank
American Express Company American Express Company
First Nations Bank Of Canada First Nations Bank Of Canada
Motusbank Motusbank
B2b Bank B2b Bank
BDC BDC
Alterna Bank Alterna Bank
Calculate the loan
Interest rates are given in accordance with the rates of the bank in Ottawa as of 07.02.2023
Loan amount
i

Specify the desired loan amount

CAD
CAD
USD
5000 C$
500000 C$
Loan term
i

Specify the loan term for the calculation

months
days
3
60
Interest rate
i

Choose the interest rate on the loan

1 %
15 %
Fill out an application for a loan!
Fill out an application for a loan!

Take advantage of our loan selection system with a free credit rating check!

What is a BDC loan calculator?

As a bank for entrepreneurs, BDC provides various lending solutions for Canadian business owners. Loan conditions offered by BDC vary depending on the time your company has been in business and the type of project you will finance. Businesses in operation for over 24 months can get a loan of up to $500,000 or up to 100% or even 125% financing for technology and equipment purchases.

You can apply for a business loan from BDC online by filling out an application form on the website.

To get a more clear picture of what your business loan will cost you, you can use a business loan calculator tool. This tool will help you calculate your monthly loan payment, the total payments you will make, and the interest paid throughout the loan term.

BDC calculators

BDC has the following online calculator tools on its website:

Why do you need the BDC loan calculator?

With a BDC loan calculator, you can get an idea of your business loan costs. Knowing the loan amount, interest rate, and term, you can calculate your monthly payment, total payments, and total interest paid throughout the loan term. These calculations will help you plan your business expenses accordingly and manage the cash flow of your company more effectively.

How to use the BDC loan calculator?

To calculate the costs of the BDC loan, enter the values for your loan amount, annual interest rate, and loan term (in months) into the loan calculator fields. Let’s assume you need to borrow $140,000 at a 7.5% interest rate for a 60-month term. The resulting calculations will show that your monthly payment will be $2,805.31, total payments will be $168,318.77, and total interest paid throughout the loan term will be $28,318.77.

How to compare BDC loans using a calculator

If you have different business loan options in mind, you can compare them by adjusting the values you enter into the BDC loan calculator — the loan amount, annual interest rate, and loan term. As you adjust the figures, you will see how your monthly payment, total payments, and total interest are changing accordingly. So, you can select the business loan option that works best for you.

Will I pay the same monthly payment I see in the BDC loan calculator?

Remember that calculations provided by the BDC loan calculator are approximate and serve for illustration purposes only. The actual loan conditions you will get (and, consequently, your monthly payment amount) will depend on your personal credit score and the credit bureau report on your business.

What are the interest rates for BDC business loans?

BDC doesn’t share the interest rates for its business loans on the website as they are subject to approval — the bank defines the rate for each borrower individually. However, you can fill out an online business loan application form to get a quote on the interest rate. You can also use Canada’s Prime rate of 5.45% as a reference.

What payment frequency can I choose with a BDC loan?

You can repay your BDC business loan monthly.

Does a longer loan term mean a lower monthly payment?

As a rule, longer-term loans involve a lower monthly payment amount. For example, if you borrow $100,000 at a 7.5% interest rate for a 60-month term, your monthly payment will be $2,003.79. But, if you borrow the same amount at the same rate for a 72-month term, your monthly payment will be $1,729.01.