Loan Payment Calculator

Overview – Your first loan payment will be due the month after the loan closing. To discuss options and details before you apply, please contact any Advantage+ team member.

The terms for your loan will be finalized once we speak with you and complete our approval process, which is usually within one business day of receiving your application. We will email our commitment to you, for your review.

Guidelines – We lend amounts of $5,000 to $200,000 for terms of 24-60 months to businesses that are looking to finance business equipment and related costs. Related costs may include freight, installation, sales tax, and closing costs.

Direct loans may be prepaid without penalty at any time. Broker-originated loans may be prepaid at any time after making one-half of the scheduled payments.

Interest Rates – Current interest rates range from 10.5% to 18%. Rates will vary based on the loan amount, loan term, and borrower’s credit. The average rate in the Advantage+ Financing portfolio for 2022 was 11.24%.

Closing Costs – Closing costs (3% to 6%) and referral fees may be paid at closing or included in the financing. Doing so will increase the amount financed and your monthly payment.

For example, if a customer is securing a 60-month, 9% loan to purchase equipment that costs $25,000, and chooses to finance the 4% closing costs ($1,000), the amount financed would increase to $26,000. Although the interest rate on the amount financed remains at 9%, the annual percentage rate (APR), based only on the equipment cost ($25,000), would be 10.7%.