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Credit Products – Amortizing Advance

Fixed rate and term; monthly payments of interest and principal; repayment terms out to 20 years.


 Key Features
  • Fixed rate
  • Fixed term
  • Amortizing
Common Uses
  • Fund short- or long-term assets whose principal balance declines on a monthly basis due to amortization and/or prepayment.
Maturities
  • Out to 20 years.
Principal-Amortization Periods
  • Out to 30 years.
Disbursement
  • Next-day if requested by 3:00 p.m.
  • Same-day possible if you call by noon.
Payment of Principal and Interest
  • Principal and interest due monthly on the first business day of the month.

  • Interest is calculated on an actual/360-day basis.
Prepayment
  • Prepayable in full or in part at any time, subject to fee.

  • Partial prepayments may be in amounts as small as $100,000 and in intervals of $100,000 thereafter.

  • With partial prepayment, we will recalculate the principal and interest payments. A reduction in the monthly payment may be possible.
Forward Rate Commitments
  • Lock in a guaranteed rate up to two years before disbursement.

  • Our forward rate commitment adds a premium to the current rate.
Risks
  • Please see the Amortizing Advance Primer Adobe PDF icon for a discussion of the risks and other considerations associated with the Amortizing advance.
More Information
  • For more information, contact the Money Desk.

 
 
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