RCU Business Plus Secured Term Loans
Rates are and are subject to change without notice.
| Loan Product | Loan Amount | Annual Percentage Rate |
| Secured Term Loan | ||
| Variable | $25,000 to $250,000 | Prime + 1.25% to Prime + 4.25% |
| Fixed | $25,000 to $250,000 | 7.75% to 10.25% |
| Collateral: | Business assets, Accounts Receivable/Inventory, specific collateral, Real Estate or cash/securities, with the maximum loan to value depending on the collateral. | |
| Term: | Maximum of 60 months. | |
| EQUIPMENT LOAN | ||
| Fixed | $5,000 to $250,000 | 7.75% to 10.25% |
| Collateral: | Security Agreement on specific financed equipment, with a maximum loan to value of 75%. | |
| Term: | Maximum of 60 months or the economic life of the equipment, whichever is less. | |
| VEHICLE LOAN | ||
| Fixed | $5,000 to $150,000 | 7.00% to 10.00% |
| Collateral: | Security Agreement and title on financed vehicle, with a maximum loan to value of 100%. | |
| Term: | Maximum of 60 months or economic life of the vehicle, whichever is less. | |
| Business Loan Fees | |
| Loans up to $50,000 | $200 |
| $50,001 to $100,000 | $250 |
| $100,001 to $250,000 | $350 |
| Additional Out-of-Pocket Fees may apply for secured loans: | |
| Credit Report: | $75 |
| Appraisal Fee: | At Cost, quoted by approved appraiser |
| Title Insurance: | At Cost |
| Escrow Fee: | At Cost |
| UCC Filing/Search: UCC Termination: |
$26.00 (estimate) $10.00 |
| Tax Service: | $50.00 |
| Recording Fees: | $55.00 (estimate) |
| Environmental Report: | $300.00 (estimate) |
| Phase 1 or 2 Report: | At Cost (if required) |
| Demand/Reconveyance: | $25.00 |
APY=Annual Percentage Yield
APR=Annual Percentage Rate
APR=Annual Percentage Rate
Rates and policies are subject to change without notice. Call for current information or refer to RCU's current Truth in Savings Account Disclosure (TISA)* leaflet and Multiple Account Disclosure for full details on early withdrawal penalties, terms and conditions on specific accounts. See separate Cost Recovery Schedule* for all fees.
* This is an Adobe Acrobat PDF file. If you do not have Adobe Acrobat Reader, you can click here for your free download. Click this link for instructions on configuring Netscape to read PDF files.
Redwood Credit Union Member deposit accounts are Federally insured up to $250,000 by the National Credit Union Administration (NCUA)
