Free tool
Total cost comparer
Two offers on the table? Put them side by side in dollars. We'll show the total cost of finance, the cost per month and the cash that actually lands in your account.
How the comparer does the sums
For each offer it adds up everything you pay, then takes away what you borrowed:
- Total cost of finance = total repayments + upfront fees + (ongoing monthly fees × months) + exit fees − amount borrowed.
- Cost per month = total cost of finance ÷ term in months. This is the price of having the money each month, not the repayment.
- Average monthly outgoing = (total repayments + ongoing fees over the term) ÷ months. This is the hit your cash flow takes.
- Cost per $1,000 borrowed lets you compare offers for different amounts on equal footing.
The verdict tells you which offer is cheaper overall, which is easier on monthly cash flow, and flags the classic trap: a longer term that lowers the monthly figure but raises the total.
Where owners get caught out
Fees taken from the advance. If a lender deducts fees before paying out, you receive less than the loan amount but repay all of it. Enter the full loan as the amount borrowed and the fees separately, and the comparer shows the real cash received.
Different terms. A 36-month loan will almost always look gentler per month than a 24-month one. That doesn't make it cheaper. Compare the total cost line first, then decide whether the monthly relief is worth the extra dollars.
Repayment frequency. Daily or weekly repayments change how the loan feels against your cash cycle even if the totals match. Our verdict on short-term versus long-term loans covers how to weigh that.
Early payout. If you might repay early, find out whether you'd save the remaining interest or still owe most of it. Our guide to choosing between two loan offers walks through the clauses to check.
Not sure which offers to get in the first place?
Start with the Best Biz Loan Finder to see which structure suits your goal, then ask a specialist what's actually available. There's no credit check when you first enquire, your details aren't passed around a crowd of lenders, and accurate answers mean the options you hear are ones worth comparing.
Comparer questions
Where do I find the total repayments figure?
Most business loan offers and contracts state the total amount you'll repay, or a repayment amount and the number of repayments. Multiply the repayment by the count if the total isn't shown. If you can't find either, ask the lender in writing before you go further.
Should I include fees that are taken out of the loan?
Yes. Put every upfront fee in the fees box, whether you pay it in cash or it's deducted from the advance. Then enter the amount borrowed as the full loan amount. The comparer works out the cash you actually receive.
Why compare total cost instead of the rate?
Rates are quoted in different ways, fees sit outside them, and a longer term can make a lower-looking rate cost more in dollars. Total cost of finance is the one number that captures all of it.
Is the cheaper offer always the better one?
Not always. A slightly dearer offer may give you a longer term, monthly rather than daily repayments, or no early payout charge. The comparer shows the dollars; you weigh them against the terms that matter to your cash flow.
Does this tool store my figures?
No. The sums run in your browser and nothing is saved or sent anywhere.
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