The terms for banking are rapidly changing and will continue to evolve. Below are the new terms that have been established by lendor. For more up to date information, contact us and we will put a VET CPA in touch with you pronto.
Due to the recent development of COVID-19, the terms for loans is rapidly changing:
| Bank | Terms |
| Affinity Bank | 1 day turn around on Lines of Credit (if existing customer) and 3 months deferred payments. |
| Bank of America | Interest only 90 days, must request |
| Bank of America | 60 day deferral of payments + line of credit |
| Chase | 60 day deferral of payments or interest only for 60 days + line of credit |
| Citicorp | Currently working on a deferral program on a case by case basis |
| First Citizens | No payments for 60 days (must request), business unsecured loans for up to 24 months with a low fixed interest rate |
| Lendeavor | 60 days deferred payments |
| M&T | 90 day payment deferral,interest accrues during the 3 months |
| PNC | Interest only 90 days & possible 90 day total deferment |
| PNC | 60 day deferment |
| Prosperity Bank | 60 day deferral of payments + line of credit |
| South State | Interest only 120 days |
| Wells Fargo | 3 month deferment |
| Zion Bank | Review each request, It could be a line of credit, interest only period, or a deferment of P&I for a period of time |
| SBA | Express Loan Payment , limited to 10% of Fee Income , priced at prime 3.25% plus 1% to 3% |