Line of Credit Payoff Calculator
See your payoff timeline and total interest cost
A revolving line of credit with a minimum payment can trap you in a long, expensive payoff cycle. This calculator shows you exactly how long it will take to pay off your balance at different payment levels — and how much interest you'll pay over that time.
- ✓Payoff timeline based on your monthly payment
- ✓Total interest paid over the payoff period
- ✓Compares minimum payment vs. custom payment
Estimates only. Assumes no additional draws.
Frequently Asked Questions
What is a typical business line of credit rate?
Most bank lines of credit are tied to Prime rate. As of 2026, expect Prime + 1–3% for strong borrowers (roughly 8.5–10.5%). Online lenders (BlueVine, Fundbox) charge more — typically 15–40% APR for newer businesses.
Should I pay off my line of credit before applying for a term loan?
Not necessarily — but you should understand how it affects your DSCR. A large outstanding line balance with a high monthly minimum payment will reduce your debt service coverage. Run the DSCR calculator with your current line payment included.
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This tool is for educational purposes only. Results do not constitute a loan offer, pre-qualification, or guarantee of financing. Consult a licensed financial professional for advice specific to your situation.