Advanced tool for commercial loan calculation. The app includes three methods of interest calculations, different payment frequencies, deferred and non-deferred payments, with an amortization schedule.

Features:

1- Interests:
The interest rates are fixed. The interest accruals are calculated using either:
-Actual/360 method known as 365/360;
-Actual/365 method known as 365/365;
-30/360 method.

2- Payment Frequency:
User can opt for monthly, quarterly or annual payments. No fraction of payment frequency is allowed.

3-PaymentType:
The loan can be reimbursed with constant amortization payments with or without a period of interest only OR with interest payments only.

4-Funding:
The funding date for this version is based on the user's mobile device time zone and date. For example a monthly period frequency, with today funding date, will have a first payment in a month.

5-Amortization schedule:
The amortization schedule does not carry an option to extend the duration of the loan when the interest payment option is activated. The final payment will always show a balloon payment at the end of the term of the loan.

6-Email Amortization Schedule:
The amortization schedule can be emailed in .CSV format by clicking on the email icon on the top left side of the amortization screen.

Note: Since every lending institution uses their own method of round-up rules and calculation practices, user can expect differences in results.This is still an excellent tool to help you during commercial lending processes.

This app contains no advertisements. The app is not affiliated with any banks or lending institutions.

Please contact Howard, Day & Associates at 678 566-3859 or [email protected] for any questions or customization needs.