Business Loan Payment Calculator with Bi-Weekly Payments
This calculator estimates periodic payments, total interest, and estimated payoff time for business loans when using bi‑weekly payment schedules. It supports true bi‑weekly (26 payments per year), a split‑monthly approach (24 payments per year), and a monthly schedule for side‑by‑side comparison.
Results are estimates intended for planning and comparison. Exact payoff timing and accrued interest depend on your loan contract, lender application of payments, rounding rules, and whether interest is computed on a different compounding basis.
Calculates payments assuming 26 equal payments per year (every two weeks). Allows additional payment per period and computes adjusted payoff time and total interest using closed‑form formulas.
Inputs
Results
Scheduled periodic payment (base)
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Actual payment per period (with extras)
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Estimated number of periods to payoff
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Estimated payoff time (years)
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Estimated total interest
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Estimated total amount paid
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| Output | Value | Unit |
|---|---|---|
| Scheduled periodic payment (base) | — | currency |
| Actual payment per period (with extras) | — | currency |
| Estimated number of periods to payoff | — | — |
| Estimated payoff time (years) | — | years |
| Estimated total interest | — | currency |
| Estimated total amount paid | — | currency |
Visualization
Methodology
Calculations use closed‑form amortization formulas. The periodic interest rate equals APR divided by the number of scheduled payments per year for the chosen method. The scheduled periodic payment is the standard annuity formula. When an extra payment per period is provided, the calculator computes an adjusted payoff period using the inverse of the annuity formula (logarithmic solution).
This tool assumes fixed-rate loans with level payments. It does not perform a full period-by-period amortization table with lender-specific rounding, nor does it model interest capitalization rules that vary by servicer. For precise payoff dates, request an official payoff statement from your lender.
Worked examples
Example 1: $100,000 principal, 6.5% APR, 5 years, true bi‑weekly (26/year) — calculator shows the base bi‑weekly payment, estimated payoff in years with no extra, and interest saved compared to monthly.
Example 2: Add $50 extra per bi‑weekly period; the calculator updates estimated payoff time and total interest using the closed‑form solution instead of simulating every period.
Further resources
Expert Q&A
What is the difference between true bi‑weekly and split monthly?
True bi‑weekly means 26 payments per year (every two weeks). Split monthly means taking the monthly payment and splitting it into two equal amounts, resulting in 24 payments per year. True bi‑weekly generally accelerates payoff more than split monthly.
Are these results exact?
No. These are mathematically consistent estimates. Exact figures depend on your lender's payment application rules, rounding, day count conventions, fees, and any prepayment penalties. Always confirm with your loan servicer for a formal payoff quote.
How does an extra payment affect payoff time?
An extra fixed amount added to each periodic payment increases the payment that gets applied to principal, which reduces the number of periods to payoff. This calculator uses a closed‑form formula to estimate the new number of periods; for irregular extras or per‑transaction timing effects, request an amortization schedule.
What should I check before switching payment schedules?
Verify with your lender that they accept the chosen schedule, confirm how they apply payments (to interest vs principal first), and check for prepayment penalties or minimum payment rules.
Why do results sometimes differ from my lender's statement?
Differences arise due to rounding policies, interest calculation day counts, additional fees, or timing of first/last payments. This calculator follows standard financial formulas and IEEE floating point arithmetic; lender systems may use different conventions.
Sources & citations
- IEEE Standard 754 on floating‑point arithmetic — https://ieee.org
- NIST guidance on software assurance and testing — https://www.nist.gov
- ISO information security standards (for secure handling of financial data) — https://www.iso.org
- OSHA general guidance (workplace compliance resources) — https://www.osha.gov