Loan calculator & payment estimator
Loan Term
Interest Rate
Loan Amount
Move the slider to
select an amount.
select an amount.
$20000
How are fees calculated?
Loans from American Credit have a monthly fee for every month you have a balance. Every month you'll pay back 1/6 of the total loan (for 6 month loans) or 1/12 of the loan amount (for 12 month loans) plus the monthly fee.
6 Month Term at a 4% Fee Rate (Example)
| Months | Rate | Principal | Monthly Fee | ||
|---|---|---|---|---|---|
| 1 - 2 | 4.0% | x | $10,000 | = | $400 |
| 3 - 6 | 1.25% | x | $10,000 | = | $125 |
| Months | 1 - 2 | 3 - 6 |
|---|---|---|
| Rate | 4.0% | 1.25% |
| Principal | $10,000 | $10,000 |
| Monthly Fee | $400 | $125 |
12 Month Term at a 4% Fee Rate (Example)
| Months | Rate | Principal | Monthly Fee | ||
|---|---|---|---|---|---|
| 1 - 6 | 4.0% | x | $10,000 | = | $400 |
| 7 - 12 | 1.25% | x | $10,000 | = | $125 |
| Months | 1 - 6 | 7 - 12 |
|---|---|---|
| Rate | 4.0% | 1.25% |
| Principal | $10,000 | $10,000 |
| Monthly Fee | $400 | $125 |
What Fee Rate should I expect?
Fee Rates range from 1.5% to 10% based on a number of business performance factors. Apply to find out what your Fee Rate could be. Apply Now
Loan Term
Interest Rate
Principal
$116,500
Total Interest
$29,708
Early Loan Payoff
Move the slider to preview your potential savings.
$0
Pay off in 6 Months
Total Loan Cost
$145,625
-
MonthPrincipalInterestTotal
-
{{schedulePayment.month}}{{schedulePayment.principal}}{{schedulePayment.interest}}{{schedulePayment.total}}
Total
$116,500
$29,125
$145,625
Month {{schedulePayment.month}}
Total:${{schedulePayment.total}}
Principal:${{schedulePayment.principal}}
Interest:${{schedulePayment.interest}}
Totals
Principal:$116,500
Interest:$29,125
Total Loan Cost:$145,625
Month
Principal
Fee Rate
Fee
1
$116,500
10.0%
$11,650
2
$116,500
10.0%
$11,650
3
$116,500
1.25%
$1,456
4
$116,500
1.25%
$1,456
5
$116,500
1.25%
$1,456
6
$116,500
1.25%
$1,456
Total
$116,500
25.0%
$29,125
Month 1
Fee Rate:10.0%
Principal:$116,500
Fee:$11,650
Month 2
Fee Rate:10.0%
Principal:$116,500
Fee:$11,650
Month 3
Fee Rate:1.25%
Principal:$116,500
Fee:$1,456
Month 4
Fee Rate:1.25%
Principal:$116,500
Fee:$1,456
Month 5
Fee Rate:1.25%
Principal:$116,500
Fee:$1,456
Month 6
Fee Rate:1.25%
Principal:$116,500
Fee:$1,456
Totals
Principal:$116,500
Fee Rate:25.0%
Fees:$29,125
-
MonthPrincipalFee RateFee
-
1$116,5003.0%$3,495
-
2$116,5003.0%$3,495
-
3$116,5003.0%$3,495
-
4$116,5003.0%$3,495
-
5$116,5003.0%$3,495
-
6$116,5003.0%$3,495
-
7$116,5001.25%$1,456
-
8$116,5001.25%$1,456
-
9$116,5001.25%$1,456
-
10$116,5001.25%$1,456
-
11$116,5001.25%$1,456
-
12$116,5001.25%$1,456
-
Total$116,50025.0%$29,708
Month 1
Fee Rate:3.0%
Principal:$116,500
Fee:$3,495
Month 2
Fee Rate:3.0%
Principal:$116,500
Fee:$3,495
Month 3
Fee Rate:3.0%
Principal:$116,500
Fee:$3,495
Month 4
Fee Rate:3.0%
Principal:$116,500
Fee:$3,495
Month 5
Fee Rate:3.0%
Principal:$116,500
Fee:$3,495
Month 6
Fee Rate:3.0%
Principal:$116,500
Fee:$3,495
Month 7
Fee Rate:1.25%
Principal:$116,500
Fee:$1,456
Month 8
Fee Rate:1.25%
Principal:$116,500
Fee:$1,456
Month 9
Fee Rate:1.25%
Principal:$116,500
Fee:$1,456
Month 10
Fee Rate:1.25%
Principal:$116,500
Fee:$1,456
Month 11
Fee Rate:1.25%
Principal:$116,500
Fee:$1,456
Month 12
Fee Rate:1.25%
Principal:$116,500
Fee:$1,456
Totals
Principal:$116,500
Fee:$29,708
Total Loan Cost:$146,208
