• Loan amounts - The minimum amount will be $1,000.00. The maximum amount will be $10,000. Any requests in excess of $10,000 will be considered as an exception.
• Application - A full application will be required, including 2 months of paystubs.
• Easy to use - Using the line of credit is a easy as writing a check. Simply write out a check to draw on the credit line. Free checks are provided. The line may not be used to pay interest on the loan.
• Terms - The monthly payment will be the greater of 2% of the outstanding amount or $25.00.
• Fees - The loan will have a $20.00 annual fee.
• Interest Rate - The loan will be a floating rate based on the Wall Street Prime plus 4.00 basis points.