Rates

Effective Date:  December 1, 2024

Vehicle & Equipment Loans
Loan Type Annual Percentage Rate (APR) Details
Vehicle Loans

9.75%

Index + Margin:
Prime + 2.00%

Payment:
Variable 

Term:
Up to 72 Months

Equipment Loans

12.75%

Index + Margin:
Prime + 5.00%

Payment:
Variable 

Term:
Up to 72 Months

Multi-Purpose Lending For Owner Operated Businesses Request a Quote Financing offered through a relationship with Newtek Small Business Finance, Inc.
APR for Variable Rate/Fixed Payment loans, which may vary, is indexed to the highest Prime Rate in the Wall Street Journal on the last day of each month, plus the rate margin indicated above. Your payment is set at time of application and will not change; instead, the term may be shortened or lengthened. As of 12/01/2024, the highest Prime Rate was 7.75%. All rates disclosed above are done so using the APR (Annual Percentage Rate). All loans will be written at the above rate plus a 1% origination fee.  Maximum Annual Percentage Rate is 18.00%.

 

Business Lines of Credit
Loan Type Annual Percentage Rate (APR) Details
Business Ca$hFlow Line of Credit1

18.00%

Index + Margin:
Prime + 11.00%

 

Payment:
Variable

Term:
Open

Business VISA® Credit Card & Secured Business VISA® Credit Card

13.75%

Index + Margin:
Prime + 6.00%

Payment:
Variable

Term:
Open

Rates & Terms

Savings Secured Line of Credit

8.75%

Index + Margin:
Prime + 1.00%

Payment:
Variable

Term:
Open

1Monthly payment is 2.00% of total outstanding balance or $25.00, whichever is greater. $25.00 monthly fee does apply. Overdraft is protection for your Business checking account. Maximum Annual Percentage Rate is 18.00%.

 

Business Real Estate Loans
Loan Type Annual Percentage Rate (APR) Details
Business Real Estate

10.00%

Index + Margin:
Prime + 2.25%

Payment:
Fixed

Term:
Up to 180 months

Real Property Improvement

10.75%

Index + Margin:
Prime + 3.00%

Payment:
Variable

Term:
Up to 180 months

Business Line of Credit Secured by Real Estate

11.00%

Index + Margin:
Prime + 3.25%

Payment:
Variable

Term:
Up to 180 months

Draw Period
10 Years (included in repayment term)

1 to 4 Family, Investor, Non-Owner Occupied Mortgage Personalized Quote Term:
Up to 15 year term with 30 year amortization
Owner Occupied Real Estate Request a Quote Financing offered through a relationship with Newtek Small Business Finance, Inc.
Investment Property Financing Request a Quote Financing offered through a relationship with First New York Federal Credit Union.
Commercial Real Estate Loans Request a Quote Financing offered through a relationship with First New York Federal Credit Union.

 

Small Business Authority (SBA) Loans
Loan Type Annual Percentage Rate (APR) Details
SBA 7(a) Loan Program Request a Quote Financing offered through a relationship with Newtek Small Business Finance, Inc.
SBA CDC/504 Loan Program Request a Quote Financing offered through a relationship with Newtek Small Business Finance, Inc.

 


Disclosures

  • Variable Rate: This plan has a variable rate feature and the annual percentage rate (corresponding to the periodic rate) and the minimum payment may change as a result. The annual percentage rate can change monthly and is based on the index plus a margin. As of 12/01/2024 the highest Prime Rate was 7.75% APR (Annual Percentage Rate). The rate will be adjusted to the highest Prime Rate as published in the Wall Street Journal on the last day of every month plus the margin.
  • APR:  Annual Percentage Rate
  • Lifetime Cap: The maximum Annual Percentage Rate that can apply is 18.00% or the maximum permitted by law, which ever is less.
  • Interest Rate Change: The interest rate is subject to change monthly and is based on the Index plus a margin.
  • Index: The Index is the highest Prime Rate as published in the Wall Street Journal on the last day of every month.
  • Margin: The margin is the percent added to the Index to determine the current Annual Percentage Rate (APR).
  • All rates disclosed above are done so using the APR (Annual Percentage Rate).
  • All rates are subject to change without notice.