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Term Loan Rates

Business Term Loan Rates

Effective
Loan Type
Min
Loan
Max
Loan
Max
Term
Risk
Based
Pricing
Range
Loan
Fees
**
Min Adj
Period1
 
Business
Term
Unsecured
Fixed
$1,000 $100,000 3 yrs.
5.750% -
9.750%
See 
schedule
below
F
F
 

 

Business
Term
Unsecured
Variable
$1,000
$100,000
3 yrs.
5.250% -
10.750%
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.
5.000% -
8.000%
See 
schedule
below
F
F
 
Business 
Term 
Secured, 
Fixed
$2,500
$1,000,000
5 yrs.
5.000% -
8.000%
See 
schedule
below
F
F
 
Business 
Term Real 
Estate
$25,000
$2,500,000
10 
yrs.
5.000% -
8.000%
 1 point
F
F
 
Business 
Term 
Secured, 
Variable
$50,000
$1,000,000
5 yrs.
5.000% -
8.000%
See 
schedule
below
V
M
 
Business
Term Gov't
Guaranteed
$25,000
$1,000,000
10 
yrs.
5.750% -
6.000%
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: 3.250%
5yr TCM: 1.750%

 $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.
 
Terms & Conditions
Programs (including but not limited to fees, rates, and features) are subject to change without notice.