Loans requiring monthly or quarterly interest payments on which the principal payment frequency is at your option unless a formal repayment program is established when the loan originates.

Account Features

Fixed or variable rate loans can be offered. Repayment can be tailored to your needs. Variable rate loans are indexed with Prime Rate and change when Wall Street Prime changes. Normally does not require regularly scheduled principal reductions. Simple interest is billed monthly or quarterly. Term can be matched to availability of funds for repayment (i.e. - cash bonus, Certificate maturity, insurance settlement, etc.) You receive billing notice for interest and/or scheduled principal reductions. If you require funds from Certificate prior to maturity, you may borrow on a time/demand to avoid the withdrawal penalty. No penalty for early repayment. Collateral loans (liquid collateral only) provide an alternative source of capital when the business does not merit unsecured debt. Individual may borrow and loan the funds to their business. Can be established as a line of credit. Line of credit provides immediate access to working capital.