Payment depends on rate and term
For an amortizing loan, the principal amount is only one input. At an illustrative 8% annual rate over five years, $200,000 would be about $4,055 per month. At 10%, about $4,249; at 12%, about $4,449. These examples assume monthly amortizing payments and exclude fees. They are not quotes.
Change the term and the payment changes materially. That is why I do not answer a $200,000 payment question with one number.
I compare cash-flow burden, not just monthly payment
A longer amortization can reduce the scheduled payment while increasing the period over which interest accrues. A shorter term can reduce time in debt while putting more pressure on monthly cash flow.
I would compare the proposed payment with actual operating cash flow, seasonality and existing debt service. I also want to know whether payments are monthly, weekly or daily; “$4,000 a month equivalent” is not operationally the same as money leaving the account every business day.
Ask for the complete economics
Before accepting an offer, I would want the amount advanced, total fees, interest or other pricing, payment frequency, number of payments, total repayment, security, guarantees and prepayment terms. If two offers use different pricing conventions, convert them into comparable cash flows rather than choosing the one with the smallest-looking headline rate.