Principal Repayment Period
(months)
|
Interest Rate
| |
---|---|---|
0 to 36
|
0.00%
| |
36 to 48
|
Prime + 1.0%
| |
48 to 60
|
Prime + 1.5%
| |
60 to 66
|
Prime + 3.50% and deferred interest
| |
66 to 72
|
Prime + 7.00% and deferred interest
| |
84 to 96
|
Prime + 10.00% and deferred interest
|
For example, considering the following conditions, the total
administrative fee would be $497.50.
| |||
Estimate of project
|
$25,000
| ||
Fed Reserve six-month CD rate
|
0.33%
| ||
Years within the initial term
|
3
| ||
25,000 x 0.0033 x 3 = 247.50
| |||
Base administration fee
|
$250
| ||
Total example administration fee
|
$497.50
|