1 Bank Rate & Term: Bank rate is estimated. Points, amortization and maturity are determined by the lender.
2 SBA Rate & Term: SBA interest rate is fixed at the time of debenture sale. SBA term is 20 years, fully amortized.
3 Estimated Fees: SBA/CDC fee of 2.15% of SBA loan amount plus CDC’s attorney flat fee of $2,000 which is included and financed in the SBA loan. Other related costs: appraisal, environmental report, escrow and closing costs.