*Information and interactive calculators are made available to you as self-help tools for your independent use to help you determine how a loan or line of credit may affect your business' budget and are not intended to provide investment or legal advice. The results of the calculation are estimates and do not guarantee available loan terms, cost savings, tax benefits, guaranteed or actual rates, etc. Oak Street Funding and First Franchise Capital cannot and do not guarantee the calculator's applicability, accuracy or results in regards to your circumstances. Your actual results may vary. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Loan Calculators
Oak Street Funding has two different loan calculators to help you determine and understand loan amounts.*
Use this interactive calculator to compare fixed rates versus variable rates and determine how a loan or line of credit may affect the budget for your business. Tip: be sure to adjust the variable rates and recalculate to consider rate fluctuations.
Use this interactive calculator to calculate a consistent monthly payment.
Definitions
Interest rate: An interest rate is the percentage of a loan paid by borrowers to lenders. For most loans, interest is paid in addition to principal repayment. Oak Street Funding interest rates are based on the U.S. Treasury rates plus a spread. There are two types of interest rates:
- Fixed Interest Rate: A Fixed Interest Rate loan means the interest rate will remain the same regardless if the Federal Reserve raises or lowers rates during the life of the loan.
- Variable Interest Rate: A Variable Interest Rate loan means the interest rate will fluctuate during the life of the loan. If the Federal Reserve raises rates, the interest rate will increase and vice versa.
Loan Term: A loan term is the repayment time for the loan. Generally, loans with longer terms will accrue more interest over time which raises the total cost of the loan for the borrower, but lowers the payment amount. Oak Street Funding offers loan terms up to 10 years.
Secured Loan: A secured loan means that the borrower has put up an asset as a form of tangible collateral to secure the loan. Should the borrower default on the loan, the lender has the legal ability to seize that asset. Examples of tangible collateral include real estate and vehicles.
Unsecured Loan: An unsecured loan does not include tangible collateral. Instead, the lender evaluates the borrower based on the 5 Cs of credit to determine if the borrower is creditworthy. Oak Street Funding lends based on the book of business or recurring revenue streams of Registered Investment Advisors, Certified Public Accountants, Insurance businesses, and BHPH dealerships.