Daily & Weekly Payment Loan Calculator
Short-term business lenders often collect payments every business day or every week. Enter a loan to see what each schedule means for the payment size and the total interest.
Enter your figures below. Results update as you type.
Daily payment$229.78$1,115.72 weekly or $4,874.36 monthly
- Total interest, paying every business day
- $7,903.97
- Total interest, paying weekly
- $8,017.46
- Total interest, paying monthly
- $8,492.28
More frequent payments reduce the balance sooner, so the total interest is slightly lower at the same APR. The trade-off is a constant daily or weekly drain on cash.
| Schedule | Payment | Payments | Total interest |
|---|---|---|---|
| Every business day | $229.78 | 252 | $7,903.97 |
| Weekly | $1,115.72 | 52 | $8,017.46 |
| Monthly | $4,874.36 | 12 | $8,492.28 |
How the Daily & Weekly Payment Loan calculation works
Payment = P x i / (1 - (1 + i)^-n), with i and n set by the payment schedule
$50,000 at 30% APR over 12 months is $229.78 every business day, $1,115.72 a week or $4,874.36 a month. Daily payments cost $7,904 in interest against $8,492 monthly, because the balance falls a little sooner.
Frequently asked questions
Why do some business loans have daily payments?
Frequent small payments reduce the lender's risk and match the way sales arrive. For the borrower they are easier to absorb than one large monthly payment, but they tie up cash every day.
How do I convert a daily payment to a monthly amount?
Multiply by about 21, the average number of business days in a month. A $229.78 daily payment is roughly $4,825 a month.
Related calculators
Last reviewed: