|
Most borrowers
qualify for 90% financing of the total project cost. The
borrower, Bay Colony and the lender each provide a portion of the
project financing. The loan structure for Bay Colony and
the participating lender is generally as follows:
| |
|
Lender |
Bay
Colony |
Borrower |
| |
Participation |
50% |
40% |
10% |
| |
Maximum
Amount |
No
Limit |
$1,945,000
($3,892,000 for manufacturer) |
|
|
Mortgage Terms*
|
| |
Real
Estate |
10
years** |
20
years |
-- |
| |
Collateral |
Senior
Lien |
Junior
Lien |
-- |
|
Interest
Rate |
Lender's
rate |
20-Year
Fixed Fixed |
-- |
|
*
Equipment loans are eligible under the same terms and conditions
with the exception that Bay Colony's loan will have a term of 10
years (instead of 20 years) and the participating lender's loan
will have a 7-year term (instead of 10 years).
**The loan terms and structure represented in this table are the
most common, however, specific terms and conditions may vary. |
|
