Loan Rates and Terms

Interest Rates

Interest rates are based on the current prime rate, as listed in the Wall Street Journal at the time of closing, and range between +/- 3.0% of the prime rate. The key factor in determining the interest rate is the risk assessment of the project.

Terms

Loan/equity investment terms shall normally be geared to the useful life of the asset to be financed or the borrower's repayment ability. The standard maximum terms for fixed assets shall be 5 to 10 years and 3 to 7 years for working capital.

Fees

Yes, There is a 1% loan origination fee based on the amount of the loan. For example, a loan of $80,000 will have a loan origination fee of $800. The borrower is required to pay all loan closing costs. The origination fee and loan closing costs can be financed, at the option of the borrower, as part of the loan.