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Business Loan Calculator — Nigeria

Calculate your monthly repayment, total interest cost, and see the full amortisation schedule for any business loan in Naira. Know the true cost before you borrow.

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FAQs

Loan questions Nigerian businesses ask

What is the difference between flat rate and reducing balance in Nigeria?
A flat rate calculates interest on the original loan amount every month, even as you repay the principal — making it significantly more expensive than advertised. A reducing balance charges interest only on the remaining principal, so your interest cost decreases monthly. Always ask lenders for the effective reducing balance equivalent of any flat rate offer.
Is business loan interest tax deductible in Nigeria?
Yes. Interest on business loans is generally deductible as an expense against Company Income Tax under the Companies Income Tax Act, as long as the loan was taken out for business purposes and the lender is a licensed financial institution. Keep your loan agreements for CIT filing.
What is the cheapest source of business funding in Nigeria?
CBN and BOI intervention funds typically offer the lowest rates (9–12% p.a.), but they are often sector-specific, difficult to access, and subject to eligibility criteria. For most SMEs, commercial bank SME loans (22–28%) are the most accessible formal option, though fintechs are faster to approve.
How do I know if I can afford a business loan?
The monthly repayment should not exceed a comfortable portion of your average monthly net cash flow — most advisors suggest no more than 30–40%. Use this calculator to find the monthly repayment, then compare it against your real cash flow. Paycape can show you your actual monthly cash position if you need accurate numbers.

Know your cash flow before you borrow

Paycape shows your real P&L, cash flow, and receivables position in real time — so you can make informed borrowing decisions and know exactly what you can afford to repay.

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