Business lines of credit often have more flexible repayment terms than a standard business loan. Business loan payments are typically fixed over the repayment period, while business lines of credit can offer interest-only payment terms, or outstanding balances can be repaid using a variety of repayment strategies. Companies with uncertain or fluctuating revenue streams, such as startups or seasonal businesses may benefit more from the flexible repayment terms a business line of credit offers.
Business Loan or Line of Credit?
Business Loan or Line of Credit
Loan Summary
Monthly Payment
$ 564.76
Interest Paid
$ 3,885.81
Other Costs
$ 250.00
Line of Credit Summary
Monthly Payment
$ 900.00
Interest Paid
$ 4,584.28
Other Costs
$ 500.00
The accuracy of this calculator is not guaranteed by First Citizens Bank [or its affiliates] and is intended for informational purposes only. The calculator displayed does not constitute the advice of, or reflect actual products, services, rates and/or terms available from First Citizens Bank [or its affiliates] and nothing contained in the calculator shall constitute an offer or solicitation of a product or service by First Citizens Bank [or its affiliates].