When you take a business loan, your lendingkart charges you interest on the loan amount as per an agreed-upon business loan interest rate. You’re required to pay your principal amount along with this interest in Equated Monthly Instalments or EMIs. However, if you have surplus funds, you can even choose to repay the entire loan amount in one shot instead of paying EMIs over a long period.

This process of making the full repayment of your outstanding business loan amount before the end of the scheduled EMI period or tenure is known as business loan foreclosure. It can happen only if you have enough surplus funds to repay your entire loan amount. A business loan foreclosure calculator can help you calculate the amount that you need to pay to foreclose your business loan.