This kitchen equipment payment calculator estimates the monthly payment and the total cost, including the down payment, from the equipment price, down payment, interest rate and term. Cobbleview Loans, a small-business funding broker in Frederick, Maryland, provides it for Frederick County restaurants. Results are estimates; real rates and terms come from lending partners.
What to enter
- Equipment price: the quoted price of the range, hood, walk-in, dish machine or package.
- Down payment: cash you put toward the kitchen at the start, or zero.
- Interest rate: the annual rate printed on an offer you have received.
- Term: how many monthly installments the kitchen will be paid over.
The result is the monthly payment and the total cost of the equipment, down payment included.
Check the math by hand
Multiply the monthly payment by the number of payments and add the down payment. The figure you get should match the calculator's total cost line. Subtract the equipment price, and what remains is the cost of financing over the term. Run the same check on a vendor's quote to compare it with a partner's offer.
Kitchen costs this calculator skips
- Lease payments and buyouts. For a lease, add every payment plus the buyout yourself.
- Installation, delivery, hood ducting and electrical work, unless you include them in the price.
- Taxes, insurance and maintenance contracts.
- Fees a partner may charge; ask for them in writing.
A hand check on a hypothetical quote
Suppose a vendor quote, for illustration only, shows 60 monthly payments of $900 after a $5,000 down payment on equipment priced at $50,000. Sixty payments of $900 come to $54,000; adding the $5,000 down payment gives $59,000 in total. The financing therefore costs $9,000 over the term. If the calculator, using the rate on the offer, shows a different payment, ask the vendor what else the quote includes.
Picking the rate for a kitchen quote
Use the rate on an actual offer, not one from an advertisement. If an offer gives only a payment and a term, leave the rate aside and compare totals instead: payment times number of payments, plus any down payment.
Why Frederick County, MD restaurants price this first
Frederick County had 459 restaurants and other eating places among 498 food service employers in 2023, with 9,915 paid employees in food service (U.S. Census Bureau, County Business Patterns 2023). Kitchen equipment is one of the largest costs in opening or upgrading. Restaurant financing covers the wider picture, and equipment financing explains loans, finance agreements and leases. More tools and guides: guides and the calculator.
By Cobbleview Loans · Updated
