An installment calculator, a one-page outline for a funding request, a checklist that sorts papers by who produces them, and a payment check worked through for an invented welding supply wholesaler, plus links to the City of Jerome and Jerome County home pages.
Business Term Loan Calculator: Pricing an Order Picker Before a Jerome, ID Request
The business term loan calculator takes an amount, an annual rate and a term in months and returns a monthly payment and the interest over the term. It runs on whatever figures are typed in; the figures below were worked out separately for this page.
In an invented case, a welding supply wholesaler wants an order picker for its warehouse aisles, priced at $26,180. At an 11.62% annual rate over 48 months, this invented quote costs $684.55 a month, $32,858.40 in all, of which $6,678.40 is interest. Over 60 months at the same invented rate, the payment drops by $107.21 to $577.34, and the interest rises by $1,782.00 to $8,460.40.
Typing the same three inputs into the calculator is a way to check a seller's or a funding partner's quote before comparing it with another.
Business Plan for a Loan Request: A One-Page Outline From a Jerome, ID Welding Supply Wholesaler
Machinery, equipment and supplies merchant wholesalers numbered 15 employer establishments in Jerome County, ID in 2023 (County Business Patterns, NAICS 4238). For an equipment request, a wholesaler like that can start from one page that answers six lines in order rather than a long business plan. The invented wholesaler's entries are shown beside each line:
| Line | What it answers | The invented wholesaler's entry |
|---|---|---|
| The cost | What the money buys, from whom | An order picker, $26,180, from an equipment dealer |
| The reason | What changes once it is paid for | Orders picked from the top racks without a rented lift |
| The timing | When the cost is due and when it starts to earn | Due on delivery; in use the same week |
| The source of payment | Which income covers the payment | Monthly cash left after costs, about $9,860 |
| What is already owed | Existing loan, lease and advance payments | $2,140 a month on a van loan and a forklift lease |
| The papers | What backs the figures above | Bank statements, the dealer quote, last year's tax return |
A Business Loan Documents Checklist, Sorted by Who Produces Each Paper
Partners differ in what they ask for, and a partner may want some of these papers and not others. Sorting them by who produces each one shows how long each takes to gather:
| Paper | Who produces it | What a partner may read in it |
|---|---|---|
| Recent business bank statements | The bank, as downloads | Deposits, balances and existing debits |
| The latest business tax return | The tax preparer | A full year of income and expenses |
| A year-to-date profit and loss statement | The bookkeeper or the owner's software | This year compared with last |
| An accounts receivable aging report | The billing software | Which customers owe what, and for how long |
| The seller's quote or invoice | The equipment dealer or supplier | Price, model and delivery date |
| A list of current debts | The owner, from statements | Monthly payments already promised |
Room for One More Small Business Loan Payment at an Invented Jerome County, ID Welding Supply Wholesaler
Before asking for a small business loan, an owner can check whether the business can carry one more payment. In the invented wholesaler's case, monthly cash left after costs is about $9,860, and existing payments come to $2,140 a month. The invented order picker payment adds either amount below:
- Over 48 months: $2,824.55 a month in invented debt payments, covered 3.49 times by the $9,860.
- Over 60 months: $2,717.34 a month in invented debt payments, a coverage of 3.63 times.
- A business can run the same division with its own figures: monthly cash left after costs, divided by every monthly debt payment including the new one.
- A funding partner may run its own version of this check with different figures, and it makes its own decision.
If the result looks thin, a longer term, a smaller amount or waiting for one existing loan to end are the levers to test before a call to (208) 361-6008.
Official City and County Websites for Jerome, ID
The City of Jerome keeps its official website at ci.jerome.id.us, and Jerome County keeps one at jeromecountyid.us. Neither office is connected with Cobblegrove Business Funding.
By Cobblegrove Business Funding ยท Updated