| |
|
| 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.
|
|
