Loan Product |
Business Visa® Platinum |
Credit Limit |
$5,000 to $50,000 |
Interest Rate |
Prime* Rate + 1% to Prime Rate + 5% (Variable Rate) |
Grace period for repayment of balances for purchases |
25 Days |
Method for computing the balance for purchases |
Average Cash Advance and Balance Transfer APR 14.9%. Delinquent rate after two billing cycles = 18.0% |
Other APRs |
Average Cash Advance and Balance Transfer APR 14.9%. Delinquent rate after two billing cycles = 18.0% |
Transaction Fee for Purchases |
None |
Transaction Fee for Cash Advances |
3% of advance amount or $5.00, whichever is greater. |
Late Payment Fee |
$25.00; Late fee is assessed when payment is 15 or more days past due. |
Over Limit Fee |
$20 per occurrence per statement cycle. |
Program Fee |
$0.00 Including Redwood Rewards Program |