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Term Loans

Reach your company's long-term goals without depleting savings.

 
 
 
  • Expand your business, increase working capital, purchase equipment, or consolidate debt
  • Low rates and flexible terms up to 10 years depending on collateral
  • Fast approvals by local decision makers
  • Loan amounts range from $1,000 to $5 million
  • Convenient automatic deduction of payments from Business Checking
  • Borrower must maintain their primary business deposit relationship with North Island

  |  Find a branch  |  Call (800) 293-6494

 

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 $50,000 3 yrs. 7.250% 11.250% See schedule below F F
Business Term Unsecured Variable $1,000 $50,000 3 yrs. 5.250% 12.500% See schedule below V M
Business Term Auto/Truck < 1 ton $2,500 $500,000 5 yrs. 3.750% 8.750% $50 F F
Business Term Vehicle > 1 ton $5,000 $500,000 5 yrs. 4.000% 9.000% $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. 5.750% 8.750% See schedule below F F
Business Term Real Estate $25,000 $2,500,000 10 yrs. 6.250% 9.250% 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. 5.000% 5.250% 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)
 
** 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 loan
  1  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.
Loans up to $50,000 $100  
  $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)

Terms & Conditions

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

 

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