Business Term Loan Rates

Business Term Loan Rates

Effective May 28, 2016

Loan Type Min Loan Max Loan Max Term Ris Based Pricing Range Loan Fees ** Min Adj Period1
Business Term Unsecured Fixed $1,000 $100,000 3 yrs. 5.250% - 9.250% See schedule below F F
Business Term Unsecured Variable $1,000 $100,000 3 yrs. 5.500% - 11.000% See schedule below V M
Business Term Auto/Truck < 1 ton $2,500 $500,000 5 yrs. 3.500% - 8.500% $50 F F
Business Term Vehicle > 1 ton $5,000 $500,000 5 yrs. 3.750% - 8.750% $50 F F
Business Term Equipment $2,500 $1,000,000 5 yrs. 4.500% - 7.500% See schedule below F F
Business Term Secured Fixed $2,500 $1,000,000 5 yrs. 4.500% - 7.500% See schedule below F F
Business Term Real Estate $25,000 $2,500,000 10 yrs. 4.500% - 7.500% 1 point F F
Business Term Secured, Variable $50,000 $1,000,000 5 yrs. 5.250% - 8.250% See schedule below V M
Business Term Gov't Guaranteed $25,000 $1,000,000 10 yrs. 6.000% - 6.250% See schedule below V M
Business Term CD Secured $1,000 $5,000,000 CD +3.00% - +4.00% n/a F F

Business Loan Fee (For Select Loans Indicated Above)

Loans up to $50,000 $100 Prime Rate: 3.500%
5yr TCM:1.220%
$50,001 to $100,000 $150  
$100,001 to $500,000 $250  
$500,001 to $1,000,000 $500  
Loans over $1,000,000 $750  

Additional Out-Of-Pocket Fees May Apply For Secured Loans

Credit Report $75
Appraisal Fee at cost (by an approved appraiser)
Title Insurance at cost (see Note #1)
Escrow at cost (see Note #2)
Tax Service $65 (loans up to $499M; larger loans add $10 per $100M)
Recording Fees $55 (estimate)
UCC Filing/ Search $17 (estimate)
Flood Certification $50 (per building)
Environmental Report $450 (if indicated)
Phase I or II Report at cost (if indicated)

** A = Rate adjusted from time to time by North Island
V = Rate varies periodically according to index
F = Rate is fixed for the term of the loan1
F = Fixed
M = Monthly
Q = Quarterly
W = Weekly
N = N/A

Note #1
For loans under $250,000 secured by a Second TD we will order a Limited Policy at an estimated cost of $150. For loans over $250,000 we will order a CLTA Title Policy. For loans secured by First TDs we will order full ALTA Policies. Charges to the borrower will be at our cost.
Note #2
For loans under $250,000 that include the refinance of existing mortgages, we will order a sub-escrow at an estimated cost of $125. For loans with refinances over $250,000 we will need a full escrow, charges at our cost.

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