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- Understanding commercial loans
How are Unchained loan payments structured?
Payments are interest only and due every 30 days with a final lump sum payment due at the end of the term. There are no penalties for early payoff.
The below table shows the following example loan term:
- Principal: 150,000 USD
- Term: 360 days
- Interest Rate: 13.00%
- Origination Fee: 2.00% (paid upon disbursement of funds)
- APR: 15.20%
| Billing Period* | Payment Due | Remaining Principal |
| 1 | $1,602.74 | $150,000.00 |
| 2 | $1,602.74 | $150,000.00 |
| 3 | $1,602.74 | $150,000.00 |
| 4 | $1,602.74 | $150,000.00 |
| 5 | $1,602.74 | $150,000.00 |
| 6 | $1,602.74 | $150,000.00 |
| 7 | $1,602.74 | $150,000.00 |
| 8 | $1,602.74 | $150,000.00 |
| 9 | $1,602.74 | $150,000.00 |
| 10 | $1,602.74 | $150,000.00 |
| 11 | $1,602.74 | $150,000.00 |
| 12 | $151,602.74 | $0.00 |
*Please note that each billing period is 30 days in length. This table is for illustration purposes only and may not be representative of approved loan terms.