1. BUSINESS TERM LOAN—“SPECIAL OFFER”
Rates are effective as of 5/1/17 for applications submitted between 5/1/17 and 6/30/17. Rates subject to change at any time without notice. Applicable on new Business Term Loans up to five (5) years with equal monthly payments to fully repay the amount borrowed, up to $250,000. Business loans are subject to credit and other approvals. Your actual rate is based on evaluation of your credit application. Re-writes of existing Term Loans or Lines of Credit, whether with Rockland Trust or another bank, do not qualify. Bank may also require a first lien on all business assets (UCC-1 filing); titles or RMV equivalent must be obtained and pledged to Rockland Trust when titled vehicles are involved. Collateral value will be determined by the Bank in its discretion by reference to appropriate invoice (if new) or recognized trade valuation (if used). Rates require auto-pay from a Rockland Trust checking account; additional deposit and auto pay discounts do not apply. All used equipment will require minimum down payment of 20%. New loans will be cross-collateralized with existing Business Banking loans when appropriate. Applicant must meet Business Banking underwriting standards; borrower must be in business for a minimum of two years. Tax returns and/or financial statements will be required to qualify for this program. To be eligible for this offer you shall maintain or establish your primary operating deposit account with Rockland Trust prior to closing. Standard closing costs to be paid by Borrower. Other terms and conditions may apply.
BUSINESS TERM LOAN APPLICABLE INTEREST RATES THROUGH 6/30/2017 AS LOW AS:
| Rate of Advance: |
If for 3 Years: |
If for 4 Years: |
If for 5 Years: |
| 80%² |
3.99% |
4.25% |
4.50% |
| 100%³ |
4.75% |
4.99% |
5.25% |
2. 80% financing available for used equipment financing
3. 100% financing available for new equipment loans only under $100,000
