Larkridge Funding Group, a small-business funding broker in Decatur, Illinois, offers a restaurant loan calculator for Macon County owners. Enter an amount, an annual rate and a term to see the monthly payment, total interest and total repaid on an amortizing loan. Results are arithmetic, not offers; lending partners make credit decisions and set rates and terms.
The three inputs
- Loan amount: the sum the restaurant would receive.
- Annual interest rate: the rate in the offer, or one you want to test.
- Term: the payment count in months, so 60 for five years.
The calculator assumes equal monthly payments that clear the loan by the final one, the way a standard amortizing term loan works.
The three results
- Monthly payment: the fixed installment.
- Total interest: what you pay on top of the amount borrowed.
- Total repaid: all the payments added together.
Checking the arithmetic
To test the method only: a hypothetical $36,000 at a rate of zero over 48 months gives a payment of $750, total interest of $0 and a total repaid of $36,000. Any positive rate raises the payment, the interest and the total repaid.
Restaurant costs this fits, and ones it does not
A term loan for a remodel, a second location or a package of kitchen equipment fits the calculator well. Some restaurant funding does not:
- Equipment leases. Lease payments and end-of-lease options are not modeled; work them out from the lease itself.
- Fees. The tool ignores origination and documentation charges deducted at closing. Subtract them from the amount you receive and add them to the total cost by hand.
- Weekly or daily payments. Only monthly schedules are modeled. For a weekly schedule, ask the partner for the payment amount and the total of all payments.
- Lines of credit. A line's balance changes with each draw, so a single payment figure does not describe it.
- Merchant cash advances. An advance is not a loan and is priced with a factor rate; multiply the advance by the factor to get the total collected.
Reading the monthly figure against a kitchen's cash flow
A payment that looks fine in a strong month can bite in a slow one. Set the monthly figure against an ordinary month's sales after food, labor and rent, not the best month of the year. Then check the total repaid against what the remodel or equipment is expected to earn over the same period.
Restaurants in Macon County, Illinois
Food services and drinking places had 218 employer establishments in Macon County in 2023, 165 of them restaurants and other eating places (U.S. Census Bureau, County Business Patterns 2023). Restaurant financing in Decatur, IL sets out which structures fit which costs, and the term loan page explains balloons, covenants and early payoff. The guides page lists the rest of our reading.
By Larkridge Funding Group · Updated