Your current advance
The new advance
More options
Original payment frequency
Your paymentestimate
$2,884.62 weekly
52 payments
Total payback $150,000, cost of capital $30,000
$70,000 net new money after the $50,000 payoff
Shown at a 1.25 factor over 12 months.
Real terms come from your file, after underwriting.
Details: payoff, schedule and early payoff
- Balance being paid off
- $50,000
- Your current payment
- $3,205.13 weekly
Estimate from the numbers you entered. Your funder confirms the payoff and the renewal terms. Running numbers here never touches your credit.
| Payment # | Payment | Principal | Cost of capital | Balance |
|---|---|---|---|---|
| 1 | $2,884.62 | $1,830.62 | $1,054.00 | $118,169.38 |
| 2 | $2,884.62 | $1,846.70 | $1,037.92 | $116,322.69 |
| 3 | $2,884.62 | $1,862.92 | $1,021.70 | $114,459.77 |
| 4 | $2,884.62 | $1,879.28 | $1,005.34 | $112,580.49 |
| 5 | $2,884.62 | $1,895.79 | $988.83 | $110,684.71 |
| 6 | $2,884.62 | $1,912.44 | $972.18 | $108,772.27 |
| 7 | $2,884.62 | $1,929.23 | $955.38 | $106,843.04 |
| 8 | $2,884.62 | $1,946.18 | $938.44 | $104,896.86 |
Pay it off early
After payment 13 of 52
- Paid in so far
- $37,500.00
- Payoff amount
- $112,500.00
- All-in
- $150,000.00
- Saved vs full term
- None at this point
FAQ
Common Questions
How does a renewal work?
A new advance pays off what is left on the current one, and the rest lands in your account. The new advance runs on its own factor rate, term and schedule.
How is the payoff of my current advance figured?
From the original advance, its factor rate and the share paid in so far. If your funder waives part of the remaining cost, set that share and the payoff drops by it.
When do funders look at a renewal?
Most funders look at a renewal once roughly half is paid in. Earlier than that, much of the new advance goes to the old balance.
What is net new money?
The new advance less the origination fee and the payoff of the old balance. When the new advance only refinances what is left, the calculator says so.