This restaurant loan calculator works out the monthly payment, total interest and total repaid on a loan from its amount, interest rate and term. Wrenpeak Lending Group, a small-business funding broker in Lake Charles, Louisiana, provides it for Calcasieu Parish restaurant owners as illustrative arithmetic only, not an offer or an estimate of terms.
What to enter
- Loan amount: the principal you would borrow, for a build-out, a second location or a set of equipment.
- Interest rate: the annual percentage from a lender's offer, or a what-if figure of your own.
- Term: the loan's length, counted in monthly payments.
The calculator assumes equal monthly payments and returns three figures: the monthly payment, the total interest over the term, and the total repaid, which is principal plus interest.
Checking the arithmetic
A hypothetical example, only to test the method: borrow $24,000 at a 0 percent rate over 48 months. Each payment is $500, total interest is zero and the total repaid is $24,000. Raise the rate above zero and the payment, interest and total all climb. The figures demonstrate arithmetic; they are not an offer.
What you finish by hand
- Fees. The calculator leaves out origination and documentation fees. Add them to the total repaid yourself.
- Weekly or daily payments. The calculator works in monthly payments only. If an offer collects weekly, ask the partner for the total repaid and compare totals.
- Balloon payments. If an offer ends with a lump sum, the result here will not match it; ask for the full schedule.
- Merchant cash advances. An advance is not a loan and is not priced with an interest rate, so this calculator does not apply to it.
Reading the result
Set the monthly payment against your slowest recent month, not your average one. Restaurant deposits rise and fall from month to month; the payment does not. If the payment only works in a good month, try a longer term or a smaller amount and watch how the total interest changes; a longer term lowers the payment but raises what you repay overall.
Restaurants in Calcasieu Parish, LA
Calcasieu Parish had 402 food services and drinking places with employees in 2023, 337 of them restaurants and other eating places (U.S. Census Bureau, County Business Patterns 2023). For owners planning a remodel or a second location, the payment is only the start; restaurant financing covers what partners look at, and business term loans explains amortization and early payoff.
Illustrative arithmetic only. Actual rates and terms are set solely by lending partners.
By Wrenpeak Lending Group · Updated