Advertiser Disclosure

🏦 Compare quotes from multiple PPP/SBA lenders at Fundera.

Can I Afford A Small Business Loan?

  • 2 comments
  • Updated on:
Advertiser Disclosure: Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity.
Chelsea Krause

Chelsea Krause

Managing Editor - Accounting
Chelsea Krause is a writer who has specialized in accounting for over three years and is a QuickBooks Certified User. She has a BA in English & Creative Writing from George Fox University and studied at the University of Oxford as well. She has been quoted in Forbes and her work appears in Startup Nation, Small Business Bonfire, and Women on Business.
Chelsea Krause
Leave a comment

2 Comments

Responses are not provided or commissioned by the vendor or bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the vendor or bank advertiser. It is not the vendor or bank advertiser's responsibility to ensure all posts and/or questions are answered.

    Stacey Jackson

    Hi, Thank you for this article. I am trying to determine If I am able to afford paying back a loan. However I do not have any business or personal debt, so I am not sure if the above mathematical equations pertain to my business or me. Is there another equation to determine if I am able to afford a loan that does not require debt?

    Thank you!
    Stacey

      This comment refers to an earlier version of this post and may be outdated.

      Chelsea Krause

      Hi Stacey,

      Thanks for reaching out! The mathematical equations would still pertain to your business. Odds are, with no business or personal debt, you are in a good position to take on a loan, so long as you generate enough income to cover the payments. To see if you can afford the monthly payments, go to the section, “How To Calculate The Debt-To-Income Ratio.” Take the mortgage example, and instead of using data from a potential mortgage, put in your own data on the loan amount you want. This way, you’ll be able to see if you can afford the payments on a loan of that size or not.

      Let us know if you have any other questions and best of luck with the loan application process!

      -Chelsea Krause

        This comment refers to an earlier version of this post and may be outdated.

      Leave a Reply

      Your email address will not be published. Required fields are marked *

      Your Review

      Comment moderation is enabled. Your comment may take some time to appear.
      Please read the "User Review and Comment Policy" before posting.

      Share

      Featured Offer: We Recommend QuickBooks 🎉

      Get 50% QuickBooks Online for a limited time!

      Take it for a spin with a free trial.

      Try QuickBooks Today

      We Recommend Fattmerchant 🏆

      Fattmerchant is one of our top picks for credit card processing!

       

       

      We love Fattmerchant's predictable pricing and excellent service.

      Get Started With Fattmerchant

      Get started with no commitment today.

      We Recommend Brex Corporate Card for Startups 🏆

      Brex Corporate Card for Startups is one of our top picks for business credit cards!

       

       

      For a limited time get 50,000 rewards points when you spend $1000 with Brex.

      Get Started With Brex Corporate Card for Startups

      Get started with no commitment today.

      We Recommend Fattmerchant 🏆

      Fattmerchant is one of our top picks for credit card processing!

       

       

      We love Fattmerchant's predictable pricing and excellent service.

      Get Started With Fattmerchant

      Get started with no commitment today.

      We Recommend National Processing 🏆

      National Processing is one of our top picks for credit card processing and POS!

       

       

      National Processing meets our high standards for credit card processing and is our preferred provider for Clover POS, among other POS systems. Get a quote today!

      Get Started With National Processing

      Get started with no commitment today.

      ⭐️ Featured Promo! ⭐️

      Sign up now and qualify for a limited time deal!

      Standard Plan: One month free ($29.95 value)
      Plus Plan: Two months free ($159.90 value)
      Pro Plan: Three months free ($899.85 value)

      Learn More

      At BigCommerce

      We Recommend PaymentCloud 🏆

      PaymentCloud is one of our top picks for credit card processing!

       

       

      We love PaymentCloud's predictable pricing and excellent service.

      Get Started With PaymentCloud

      Get started with no commitment today.

      We Recommend Fattmerchant 🏆

      Fattmerchant is one of our top picks for credit card processing!

       

       

      We love Fattmerchant's predictable pricing and excellent service.

      Get Started With Fattmerchant

      Get started with no commitment today.

      Get 60% Off FreshBooks ✨

      FreshBooks is offering 60% off of their accounting and invoicing software for six months to help support businesses during COVID-19.

      Start For Free

      At FreshBooks

      We Recommend ShopKeep POS 🏆

      ShopKeep POS is one of our top picks for Point of Sale software!

       

       

      ShopKeep is offering free eCommerce tools and free online ordering for all existing and new customers for the next 3 months!

      Get Started With ShopKeep POS

      Get started with no commitment today.

      We Recommend Stamps.com 🏆

      Stamps.com is one of our top picks for shipping software!

       

       

      Start a 4-week free trial with Stamps.com and get $5 in free postage to test it out. No promo code required.

      Get Started With Stamps.com

      Get started with no commitment today.

      Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity. The editorial content on this page is not provided by any of the companies mentioned and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are author’s alone.

      We Highly Recommend 🏆

      is one of our top picks for credit card processing!

      We love 's predictable pricing and excellent service.

      Their standard offer has no early termination fee and no junk fees. 👍

      Learn More At

      Sign up for the Maverick Newsletter

      • We occasionally send out emails with special offers.