Use the Loan Calculator

If you're considering a loan from Windmill Microlending and want to understand your potential financial commitments, using the loan calculator on their website is an excellent way to get a detailed breakdown of your payments. Here’s how you can use this tool to understand how much you would be paying:

Steps to Use the Windmill Loan Calculator:

  1. Visit the Website: Go to the Windmill Microlending website or directly access the loans page at Windmill Microlending - Our Loans.
  2. Find the Loan Calculator: Scroll down the page until you locate the "Loan Calculator" section.
  3. Adjust the Sliders:
    • Loan Amount: Use the slider to adjust the amount you wish to borrow.
    • Education Term: Set the duration of your educational program.
    • Repayment Term: Choose how long you plan to take to repay the loan after completing your education.
  4. View Your Payment Details:
    • The calculator will automatically update to show you:
      • Interest-Only Payment: The amount you will pay monthly during the education term, which covers only interest.
      • Interest and Principal Amount: Your monthly payment after the education term, covering both principal and interest.
      • Total Interest: The total amount of interest you will pay over the life of the loan.
      • Total Payment: The overall amount you will have repaid by the end of your repayment term, including both principal and interest.
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