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Business Installment Loans

 

Loan Highlights

   
Loan Amount

$10,000 to $1,400,000

 

Collateral Types

Medical Imaging Equipment, Heavy Construction Equipment, Office
Equipment, Information Technology Equipment, Restaurant
Equipment, Manufacturing Equipment.

 

Term

5 years (7 and 15 year terms available)

 

Amorization

Full Amortization. (15-year loan programs typically are through the
SBA 7a Loan Program)

 

Interest Rates

Fixed Rate and/or Variable Rate

 

Loan-to-Value

80% - 100% financing available

 

Prepayment

None

 

Assumable

Subject to lender's approval; 1% assumption fee

 

Minimum Debt

Typically 1.10x or >

 

Coverage Ratio  

Closing

48 hours on loans less than $349,999.99 and 3 to 5-business days
on loans exceeding $350,000.00 from executed application
assuming timely receipt from borrower of all information requested.

 

Early Rate Lock

Available for no fee following receipt of complete application.

 

 

 

 

 

 

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