| |
|
| Loan Amount |
$10,000 to $1,400,000
|
| Collateral |
Eligible Accounts Receivable.
See your Premier Service Bank Commercial Lending Officer for details.
|
| Term |
12-Months
|
| Interest Rates |
Variable, based on Wall Street Journal Prime Rate plus a margin of
1-3%, adjusted daily.
|
| Loan-to-Value |
Generally not to exceed 80% of eligible account receivables.
Eligible account receivables include account not exceeding
60-days, less concentrations of 20%.
|
| Prepayment |
None.
|
| Minimum Debt |
Typically 1.10x or >
|
|
| 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. |
|
