Calculating what your business can afford to borrow
Calculating what your business can afford to borrow
Business Loan Borrowing Calculator
The table below can be used to assist in working out your income available for loan repayments*. To work through this calculation you'll need your latest full year financials, and you can even forecast how you think the current year will go.
Latest Full Year
Date of most recent full year (dd/mm/yyyy)
Business income
Annual Net Profit Before Tax
$
Add back the following items from your financials. These contribute to the amount available for borrowing
Interest paid on existing loans
$
Leasing costs (e.g. motor vehicle/equipment)
$
Depreciation
$
Total amount of personal wages paid (before tax) to all owners
$
Total voluntary superannuation contributed in excess of 9% on behalf of the owners
$
Other (e.g. non re-occurring expenses - negative value for income)
$
Sub-total of profit inclusions
$
Other income Please include other income as an annual amount before tax
Is there any other income (e.g. PAYG) from any other source that could be used to repay the loan?
Forecast for Current Year
$
$ $ $ $ $ $ $
Total available income before tax Total available annual income (before tax) (A) Tax on total available annual income (A x30%) (30% as an example) (B) Total available income after tax (A-B = C) Gross monthly income available for repaying any business debt (i.e. servicing) (C divide by 12 = D) Less - other loans and expenses Please detail any existing loan repayments and personal living costs for all owners Existing business loan repayments (E) Existing business & personal credit card repayments (F) Existing lease repayments (e.g. motor vehicle/equipment) (G) Existing combined home and personal loan repayments for all business owners (H) Combined personal living expenses for all business owners (I) Include expenses, such as rent, utilities, groceries, and other ongoing personal expenses Total funds available for new loan repayments (D-E-F-G-H-I)
$
$ $ $ $
Monthly $ $ $ $ $ $
$
$ $ $ $
Monthly $ $ $ $ $ $
*Note: The results from this calculator should be used as an indication only. Results do not represent either a quote or pre-qualification for a loan. It is advised that you consult your financial adviser/accountant before taking out a loan. The calculations do not include upfront or continuing credit fees and charges. The calculator is only for business loans, and is not appropriate for loan purposes of a personal, domestic, household or residential investment nature. The resulting calculations do not constitute a loan application or variation to an existing Suncorp Bank facility, loan offer or loan approval. Please call 13 11 75 or visit a Suncorp Bank branch or Business Centre for further assistance. A simple Business Loan Borrowing Capacity Calculator is available on our website at:
Call 13 11 75 www .au
Visit your local branch
Suncorp-Metway Ltd ABN 66 010 831 722 Australian Credit Licence 229882
20529 22/03/12 A
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