Warwick Credit Union Commercial Loans
Term loan
Term loan from Warwick Credit Union, with rates from 8.20% a year.
- Interest rate a year, from
- 8.20%
- Establishment fee
- $26
- Monthly fee
- Not published
- Borrow
- Not published
Monthly repayment
$100,000 over 1 year
What it would cost
At the lowest published rate of 8.20%. The rate you are offered depends on your business, and the establishment fee is not included.
- Monthly repayment
- $8,708
- Total repayments
- $104,497
- Interest
- $4,497
Loan details
Rates
- Interest rate (a year)
- 8.20%–8.50%
- Rate type
- Fixed or Variable
- Security
- Not published
- Type of finance
- Term loan
Limits and fees
- Loan amount
- Not published
- Loan term
- Up to 1 year
- Establishment fee
- $26
- Monthly fee
- Not published
How it compares
Against the other business loans we compare. Typical means the middle half of them.
Setup fee
$26
A typical setup fee is $26.
Longest term
1 year
3 years is the usual longest term.
Pros and cons
Pros
- Extra repayments. Paying more than the minimum pays the loan off sooner and cuts the interest you pay.
Cons
- Your rate isn't known until you apply. It's set by your credit history and finances, anywhere from 8.20% to 8.50%, and only some people get the starting rate.
- An early repayment fee. Paying the loan off early or refinancing can cost a fee, which cuts into what you save by repaying sooner.
Similar loans
Business loans of the same kind from other lenders that start at a similar interest rate.
- Interest rate from
- 8.19%
- Establishment fee
- $850
- Interest rate from
- 8.25%
- Establishment fee
- $795
- Interest rate from
- 8.28%
- Establishment fee
- Not published
