Payments are interest only and due every 30 days with a final lump sum payment due at the end of the term.
The below table shows the following loan term:
- Principal: 10,000 USD
- Term: 12 months
- Interest Rate: 11%
- Origination Fee: 1% (paid upon disbursement of funds)
- APR: 12.08%
| Billing Period | Payment Due | Remaining Principal |
| 1 | $90.41 | $10,000.00 |
| 2 | $90.41 | $10,000.00 |
| 3 | $90.41 | $10,000.00 |
| 4 | $90.41 | $10,000.00 |
| 5 | $90.41 | $10,000.00 |
| 6 | $90.41 | $10,000.00 |
| 7 | $90.41 | $10,000.00 |
| 8 | $90.41 | $10,000.00 |
| 9 | $90.41 | $10,000.00 |
| 10 | $90.41 | $10,000.00 |
| 11 | $90.41 | $10,000.00 |
| 12 | $10,090.42 | $0.00 |
**Please note that each billing period is 30 days in length.