| |
| Business Purpose |
Equipment purchase; capital improvements; refinance existing debt |
| Loan Amounts |
$10,000 to $150,000 |
| Terms/Maturity |
Up to seven (7) years |
| Interest Rate |
Variable, based on the Prime Rate as published in the Wall Street Journal plus a margin; Fixed rate available as determined at time of approval |
| Access to Funding |
Funds available at closing |
| Monthly Payment |
Principal and interest payments to amortize entire balance over the term of the loan |
| Collateral |
First lien on all business assets and/or liquid collateral such as CD or securities |
| Guarantees |
Required from each borrower/owner |
| Costs |
Closing costs vary by complexity of transaction; Annual facility fee 1% |
| Features/Benefits |
Automatic payment feature; Fixed rate available |
| |
| |
| CREM | Residential Land Dev Revolving LOC | LOC |
