|
Fee Structure for Application Process
Applications cannot be processed without the initial application fee. This fee will be refunded - deducted
from the final loans fee. If you do not receive a loan all fees will be refunded. Please see example below
for clarification.
Scenario #1
Sally applies for loan for $50,000. Her application fee is $250.00
Sally receives the loan for $50,000. Her loan fee is 2% or $1000. Her application fee of $250 is deducted
from that amount - and she only has to pay $750 for her final loan fee.
Scenario #2
Sally applies for loan for $50,000. Her application fee is $250.00
Sally receives a loan for $30,000. Her loan fee is $600. Her application fee of $250 is deducted from her
loan fee and she only owes $350 for the final loan fee.
|
Scenario #3
Sally applies for loan for $50,000. Her application fee is $250.00
Sally is refused funding. We refund Sally $250 application fee.
|
Loan Amount
|
Loan Fee
|
|
Up to $25,000
|
$500.00
|
|
$25,000 - $100,000
|
2% of loan amount
|
|
$100,001 - 200,000
|
2.75% of loan amount
|
|
Over $200,001
|
3 % of loan amount
|
Loans offered will be arranged for a fee. Application fee will be waived if no loan is secured. We reserve the
right to refuse application if business plan or application is not in acceptable format or inaccurate or deemed
to be fraudulent. We cannot guarantee that amounts applied for will be accepted or received. Fees will apply
to amount of loan secured.
|
