About SME/MSME Business Loan Calculator

Several micro, small, and medium enterprises (MSME) are unable to grow as they do not have access to funds in a timely manner. The financial health of an organization is crucial for its long-term sustainability.

Money is needed not only to meet regular working capital expenses but for several other purposes such as building inventories, expansion, and unforeseen emergencies. To help the MSME and the small and medium enterprises (SME), several non-banking financial companies (NBFCs) offer customized and flexible loan options to them..

Such business loans have features that benefit organizations to meet their fund requirements. Here are some beneficial features of such loans:

  • Facility to avail of loan up to INR 30 lakh

  • Fast-processing through an online application that is quick and hassle-free

  • Flexibility to drawdown required amount and pay interest only on the amount used, which helps reduce the Equated Monthly Installment (EMI)

  • Affordable business loan interest rate and lower processing fees

  • Repayment tenure of up to five years to ensure you can repay the borrowed amount without financial distress

  • Minimal documentation

Before you avail the loan, it is recommended that you determine the EMI to ensure it fits within your current financial situation. A business loan calculator helps calculate the estimated EMI payable on the borrowed amount.

Using an online calculator is very simple and it is a quick method to calculate the EMI. You need to simply input the principal, loan tenure, and the interest rate. With a simple click of the mouse, you can determine the amount you will have to pay towards the repayment of the amount.

Benefits of an online calculator

An online business loan calculator provides the following advantages:

  • It helps you determine the approximate monthly outflow towards repayment

  • It is beneficial in determining the loan amount that suits your business requirements

  • It offers you the flexibility to choose the amount and tenure that will not add financial burden to your business

  • It allows you to determine the EMI beforehand to budget your monthly outflows

What is an EMI?

The loan may be repaid in several ways. The simplest way is to opt for an EMI wherein the total repayment amount is divided into fixed monthly installments over the loan tenure. The EMI comprises two components; the principal and the interest payable on the same. Choosing to repay the loan through EMIs is recommended for small business owners operating on limited financial resources.

Small business loan is an excellent option if you need money to purchase equipment but do not have the liquidity to meet such expenses. An online calculator plays a crucial role to give you a clear understanding of your future financial obligations when you avail a specific loan amount for a particular tenure at a specified rate of interest. Therefore, you must make these calculations before opting for a loan.

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