Business Rates Tables

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Business Visa
Credit Card Rates

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Business Visa
Loan Product Business Plus Visa
Credit Limit $5,000 to $50,000
Interest Rate Variable Interest*
Prime + 4.00% to
Prime + 8.00%
Grace period for repayment of balances for purchases 25 Days
Method for computing the balance for purchases Average daily balance including new purchases
Other APRs Average Cash Advance and Balance Transfer APR 14.9%. Delinquent rate after two billing cycles = 18.0%
Transaction Fee for Purchases None
Transaction Fee for Cash Advances 3% of advance amount or $5.00, whichever is greater.
Late Payment Fee $25.00; Late fee is assessed when payment is 15 or more days past due.
Over Limit Fee $20 per occurrence per statement cycle.
Program Fee $0.00 Including Redwood Rewards Program

*Prime Lending Rate is 3.75% as of 2/1/17 as published in the Wall Street Journal.

Business Loans
& Lines of Credit

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RCU Business Plus Unsecured Lines of Credit
Loan Product Unsecured Line of Credit
Loan Amount $25,000 to $100,000
Interest Rate Prime + 1.50% to Prime + 5.00%*
Business Loan Fees
Loans up to $50,000 $200.00
$50,000.01 to $100,000 $250.00

*Prime Lending Rate is 3.75% as of 2/1/17 as published in the Wall Street Journal.

RCU Business Plus Secured Lines of Credit
Loan Features Secured Line of Credit
Maximum Loan Amount $25,000 to $250,000
APR Prime + 1.00% to Prime + 4.25%*
Maximum Term 12 Months
Business Loan Fees
Loans up to $50,000 $200.00
$50,000.01 to $100,000 $250.00
Additional Out-of-Pocket Fees may apply for secured loans:
Credit Report: $75
UCC Filing/Search:
UCC Termination:
$26 (estimate)
$10

 *Prime Lending Rate is 3.75% as of 2/1/17 as published in the Wall Street Journal.

RCU Business Plus Unsecured Term Loans
Loan Product Unsecured Term Loan
Loan Amount $5,000 to $100,000
Annual Percentage Rate Fixed Interest 7.00% to 9.75%
Business Loan Fees
Loans up to $50,000 $200.00
$50,000.01 to $100,000 $250.00

RCU Business Plus Commercial Real Estate

Loan Feature Variable Rate Loan Fixed Rate Loan
Loan Amount $150,000 to $30,000,000 $150,000 to $30,000,000
APR 6 month or 12 month Libor + 2.50% to Libor + 5.0% depending on property, underwriting and credit. Constant Maturity Treasury + 2.20% to CMT + 5.0% depending on property, underwriting and credit.
Term 10 year maximum with a maximum 25 year amortization. Libor rates are available for 6 month and 1-year changes. 10 year maximum with a maximum 25 year amortization. Fixed rates are based upon the 1-year, 3 years, 5 years and 10 years for the corresponding Constant Maturity Treasury index. Fixed rate loans are subject to a prepayment penalty.
Points and Fees 1% plus out of pocket fees such as appraisal, title, and environmental & recording fees. 1% plus out of pocket fees such as appraisal, title, environmental & recording fees.
Collateral First or Second Deed of Trust on commercial property, with a maximum of 75% loan to value. First or Second Deed of Trust on commercial property.

 

Business Loan Fees
Loans up to $50,000 $ 200
$50,001 to $100,000 $ 250
$100,001+ $ 350

 

Additional Out-of-Pocket Fees may apply for secured loans:
Credit Report: $ 75
Appraisal Fee: At Cost, quoted by approved appraiser
Title Insurance: At Cost
Escrow Fee: At Cost
UCC Filing/Search:
UCC Termination:
$ 26.00(estimate)
$ 10.00
Tax Service: $ 50.00
Recording Fees: $ 55.00 (estimate)
Environmental Report: $ 300.00 (estimate)
Phase 1 or 2 Report: At Cost (if required)
Demand/Reconveyance: $ 25.00

 

  • Minimum Debt Service Coverage: 1.25
  • Libor rate is the London Interbank Offered Rates as published in the "Money Rates" section of the Wall Street Journal. The Constant Maturity Treasury Index is published in the Federal Reserve Bulletin H-15.