Rates apply to new advances of $50,000 or more. For clients that have an existing line, the promotional rate will apply to new advances that are an increase over the closing balance on September 20, 2019. Any Liquidity Access Line balance paid down after September 20, 2019 will reduce the eligible amount of new advances for the promotional rate. Rates are subject to change, but will not change once balance is drawn.
When the term of the fixed-rate advance ends, any remaining balance will be added to the balance of the Liquidity Access Line at the variable interest rate effective as of that date. Clients who pay off any portion of their fixed-rate advance prior to the payment date, or have their loans demanded, will be subject to a prepayment fee. New incremental fixed-rate balances taken during the promotional period cannot be used to pay down existing variable- or fixed-rate balances.