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Business loans fees and details

Find out how much you'll pay, with no hidden surprises.

Fee summary

Monthly fee:

Setup fee¹:

$150 to $1,000

Renewal fee²:

$50 to $150

Prepayment fee:

Variable rate loan: $0

Fixed rate loan: Fee is based on certain borrowing criteria, such as the loan amount and your overall credit profile

Amendment fee³:

$150

Interest rate

Interest rates differ from borrower to borrower. Before approving you for an interest rate, we review certain criteria. These include your credit score, detailed business plan, personal investments in your business and overall financial health.

Example, for illustrative purposes:

Dr. Phillip, an established healthcare provider, needs a $300,000 loan to remodel his office. But he can't provide collateral to secure a loan. Dr. Phillip has been operating his dental practice for more than 5 years and has maintained an excellent credit score for more than 5 years. He holds a $15,000 credit card and pays $2,500 a month towards his mortgage and $500 a month towards his car lease. Considering his operating costs, assets, debts and other expenses, along with his excellent credit rating, he would qualify for an interest rate of Prime minus 0.25%.

Repayment

Variable rate business loan:

There's no penalty for paying off your variable rate loan early.

Fixed rate business loan:

You can make 2 types of payments:

Blended principal and interest payments⁴
Principal plus interest payments, with principal payments made monthly or quarterly⁵

Business loans fees and details

Fee summary

Monthly fee:

Setup fee1:

Renewal fee2:

Prepayment fee:

Variable rate loan: $0

Fixed rate loan: Fee is based on certain borrowing criteria, such as the loan amount and your overall credit profile

Amendment fee3:

$150

Interest rate

Example, for illustrative purposes:

Repayment

Variable rate business loan:

Fixed rate business loan:

Setup fee¹:

Renewal fee²:

Amendment fee³: