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Loan Calculator Help...
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
Calculations are intended to be used as a guide only. It is not an offer and has no legal effect on any contracts entered into by you ‘the client’. Fees are not included in calculations.
Finance Facts
This loan product supports professionals such as Doctors, Lawyers, Accountants, Engineers, Architects, Dentist, etc.
$1,000 – $100,000
Loan Range
7.5% per annum
Interest Rate
1 year – 15 years
Repayment Terms
1 month – 3 months
Moratorium (Interest Only Payments)
Lending Criteria
Applicants must be legal permanent residents of Barbados
Applicants must have a commercially viable business
Applicants must possess the knowledge, requisite certification and 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
Business plans, financial records and cash flow projections are required for loans in excess of $50,000
Security Options
Guarantees
Bill of Sale
Bonds
Fixed Deposits
Salary Deductions
Life Insurance Policies
Property
Mutual Funds
Some security options may carry legal and/or processing fees. There is an administration fee of 3% of the loan amount or a maximum of $3,000.
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 info@fundaccess.org
Follow Us
FundAccess
‘City Building’
Pinfold Street
Bridgetown, Barbados
BB11127
(246) 228-1366
info@fundaccess.org
Business Hours
Mon – Fri: 8:15am – 4:00pm
Sat: Closed
Sun: Closed