Borrowers Fees

• Processing Fees
  -Aproximately 2.65% of the SomerCor loan plus $1,500 for closing costs, financed into the loan.
  
  -Amortized for 10 or 20 years, depending upon asset purchased.
  
  Detailed Description
  
  
• Annual Servicing Fee
  -Currently 1.21% of outstanding balance calculated into monthly amortization payment
  
  Detailed Description
  
  
• Application Fee
  -$2,500, or 1% of net debenture (whichever is less) application fee prior to submission of package to SBA.

Bank Fees

• First Mortgage Lender Fee
  -One-time fee .5% of bank's first mortgage
  
  Detailed Description