Offer comparer: line up 2 to 4 funding offers
Type in the offers you have, loans or cash advances, and see the total cost in dollars, estimated APR and payment for each, side by side.
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Side by side
Sorted as entered. The lowest total cost in dollars is marked.
| Measure | Offer A | Offer BLowest total cost |
|---|---|---|
| Type | Cash advance | Loan |
| Total cost | $18,500 | $15,932 |
| Total paid back | $67,500 | $64,432 |
| Cash in hand after fees | $49,000 | $48,500 |
| Estimated APR | 90% | 39% |
| Payment | $357 a business day | $826 a week |
| Number of payments | 189 | 78 |
| Cost per $1 received | $0.38 | $0.33 |
Estimates from the numbers you entered, not offers. A cash advance is a purchase of future receivables, collected by a split of sales or a fixed debit, subject to reconciliation; its estimated APR assumes payback at the pace you entered.
See if you can beat theseYour amount carries into the quiz, already filled in.
How offers are compared
Lenders and funders quote cost in different ways: an interest rate, a factor rate, a daily or weekly payment. This tool turns each offer into the same four numbers.
- Total cost: everything you pay back minus the cash you receive after upfront fees. This is the number we rank by.
- Estimated APR: the yearly rate at which the payments are worth exactly your cash in hand. For a loan with no fees it equals the quoted rate. Fees push it higher.
- Payment: the amount and how often. We count 252 business days, 52 weeks or 12 months a year.
- Cost per $1 received: a fair check when offers are for different amounts.
For a loan, we assume equal payments that pay off interest and principal over the term. For a cash advance, the payback is the amount times the factor rate, split evenly over the time you expect. A cash advance is a purchase of future receivables, collected by a split of sales or a fixed debit, subject to reconciliation. It has no fixed term, so its estimated APR depends on that pace.
Expect big gaps between offer types. NerdWallet says effective APRs on merchant cash advances may range from 40% to 350%, with factor rates of 1.1 to 1.5.
Watch out
Before you compare, get each offer in writing with the total payback in dollars, the payment and how often it is taken, and every fee. Fees taken out of the funding are easy to miss.