Promotional Business Loan Offer
Commercial Real Estate Loans
4.25%APR* 7-Year Fixed Rate
4.75%APR* 10-Year Fixed Rate
Loan-to-value up to 80%
Amortization up to 25 years
Low origination fee of 0.50%
3/2/1 pre-payment penalty
Maximum loan amount up to $1.5 million
Contact Us to Learn More About our Competitive Rates!
*Advertised rate is effective as of 7/18/2019 and is subject to change. Applicant must establish and maintain property and primary operating account(s) with Grove Bank & Trust ("GBT") for the life of the loan.
In the event of a pre-payment, a pre-payment penalty shall be assessed as follows: (1) Before the 1st anniversary date of the loan, the penalty will equal 3% of the principal amount prepaid; (2) before the 2nd anniversary, 2% of the principal amount prepaid; and (3) before the 3rd anniversary, 1% of the principal amount prepaid. Prepayment penalty shall not apply if the prepayment occurs after the 3rd anniversary date.
This is not a commitment to lend. Loans are subject to credit and collateral approval. Origination fees and prepayment penalties may apply. Programs, rates, terms and conditions are subject to change without notice. GB&T reserves the right to cancel or modify this offer at any time without notice. Other restrictions, limitations and fees may apply. Please contact a GB&T representative for additional details.