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Loan Amortization Schedule
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June 30, 2024
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Amortizing a loan means paying it down, a small amount at a time.

Learn the implications of your loan and the short and long-term impact.  

A loan amortization schedule is a detailed table that outlines the periodic payments and allocation of each payment towards principal and interest over the life of a loan.

It displays the remaining balance after each payment and provides a clear breakdown of how each installment contributes to reducing the loan amount. This helps borrowers understand the repayment structure and track their progress in paying off the loan. 

This template will help you create a comprehensive loan amortization schedule, providing a clear breakdown of periodic payments, interest, and principal allocations throughout the loan repayment period. 

For help understanding your small business loan options and guidance through the application process, contact a SCORE mentor for support.  

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The National Bankers Association Foundation’s mission is to eliminate the racial wealth gap by ensuring underserved communities have fair access to transformative financial education, services, and resources. To accomplish this, we support the work of Minority Depository Institutions (MDIs) through our four strategic pillars, which include: Financial Education, Entrepreneurship and Small Business, Research and Impact, and Collaboration and Capacity Building.

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Funded, in part, through a Cooperative Agreement with the U.S. Small Business Administration. All opinions, and/or recommendations expressed herein are those of the author(s) and do not necessarily reflect the views of the SBA.

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