In fact, project loans have a fixed interest that cannot exceed the
principal amount plus 2.35% if the payment term is less than seven years.
In the event that the loan due payment term is more than seven years,
the interest can be increased to the base rate plus 2.85 percent.
For loans of less than $25,000, the maximum interest rate does not
exceed the base rate plus 4.25 percent, for loans with a maturity of less than
seven years.
As for loans that are due after seven years, the interest rate may reach
the full interest rate plus 4.85 percent.
How do I get a loan in America
It is noteworthy that J.P. Morgan Chase & Co. has finally reached an
agreement with a website that specializes in terms and types of loans and
through the Internet.
This site is called On Deck Capital Inc. Through this site, loan
applicants for the purpose of establishing projects are provided with
approvals. And that in just a few minutes.
Not only that, but it enables them to disburse the required loan amount
on the same day, or the next day at the latest.
Bank of America to provide loans to projects in America
Bank of America preferred to stay in line, but at a slower pace, since
last summer Bank of America began to speed up its procedures, notably with a
simpler line of credit.
It also allowed project loans to be granted within 15 days or two weeks
only instead of three weeks or a month.
Eastern Bank to provide loans to projects in America
Today, Eastern Bank customers can be entrepreneurs in America. And that
is after they get bank loans amounting to nearly $100,000. So easily while they
drink their morning coffee.
Today, Eastern Bank customers can get a project loan in no more than 5
minutes. Previously, it would take a whole month or several weeks.
At this time, sufficient information was being collected about the loan
applicant. He also had to fill out a set of forms and papers with the required
information about him.
Eastern Bank, a well-known American bank, has invested tens of millions
of dollars in project loans in recent years.
These easy loans have attracted many project owners who wish to obtain
financing for their projects, and who wish to turn their commercial investment
dreams into a real reality away from the complex procedures that can be met
with rejection.