Example and reference only. This calculator produces illustrative estimates to help you plan. Figures are not exact, do not account for your full circumstances, and must not be used to file, remit, or make financial commitments. Confirm every amount with the CRA, Revenu Québec, or your accountant before acting on it. Nothing here is tax, accounting, or financial advice.

Financing

Loan Payment Calculator

Compare what the same borrowing costs as a term loan, an operating line, or equipment financing — and what each does to your monthly cash requirement.

Monthly payment $3,077.48

Total interest $34,649

Total repaid $184,649

Same money, three structures
Structure	Monthly	Interest cost
Term loanFixed amortizing payment over 5 years. Predictable, and the balance actually goes down.	$3,077.48	$34,649
Operating line of creditInterest-only on what you draw, typically 1–2% above a term rate. Cheap monthly, but the principal never clears itself.	$1,250.00	$15,000 a year, ongoing
Equipment financingSecured against the asset, so often a point cheaper — but tied to that purchase and capped near the asset life.	$3,005.69	$30,342

Before you sign

→Ask for the total cost of borrowing in dollars, not just the rate — setup fees, standby charges, and insurance are often quoted separately.
→Check the prepayment terms. Some term loans charge three months of interest to pay out early, which matters if you expect a strong year.
→Confirm whether a personal guarantee is required, and for how much. This is the single most consequential clause for an owner-operator.
→Run the payment against your worst quarter, not your average one. Debt service is due whether the season cooperates or not.
→If the rate is variable, model it two points higher before you sign.