Using the calculator is straight forward. User enters a "loan amount", "number of months", "annual interest rate". The calculator calculates the number of monthly payments.
The "Payment Method" determines when the first payment is due. With the default selection, "End-of-Period", the first payment will be due one month after the loan is made. If "Start-of-Period" is selected, then the first payment will be due on the loan date.
The term (duration) of the loan is expressed as a number of months.
- 60 months = 5 years
- 120 months = 10 years
- 180 months = 15 years
- 240 months = 20 years
- 360 months = 30 years
Need more options including the ability to solve for other unknowns, change payment / compounding frequency and the ability to print an amortization schedule? Please visit, https://financial-calculators.com/loan-calculator
This loan product supports persons or companies who have been in business for one year or less.
$1,000 – $25,000
6% per annum
1 year – 5 years
1 month – 6 months
Moratorium (Interest Only Payments)
Applicants must be legal permanent residents of Barbados
Applicants must have a commercially viable business or idea
Applicants must possess the knowledge or skills to properly execute the operation of the business
Applicants must be willing to supply FundAccess with information relative to the business for the duration of the loan period
Applicants should make a tangible investment in the business either in cash or kind
Applicants must be willing to accept training prior to the approval of the loan
Some security options may carry legal and/or processing fees. There is an administration fee of 3% of the loan amount.
For individual and joint loans, additional protection for your loan is made possible through creditor’s life insurance.
If you have any questions, give us a call at (246) 228-1366 or email us at email@example.com
Mon – Fri: 8:15am – 4:00pm