This project was successfully funded by a loan from Steward Regenerative Capital.
non-guaranteed portion of the B&I loan
Non-guaranteed portion of the USDA B&I Loan. Total non-guaranteed portion is $5M. Steward will be funding $3,125,000 of this loan. Floating interest rates set quarterly.
DETAILS ON LOAN:
Steward’s Total: $3,125,000
TOTAL: 9.5% (initial rate set)
NET rate after servicing spread to Magnolia - 9.25%
Steward Servicing Spread - ? - .25%
Terms - 30 year term, 24 month of IO, amortization is 28 years (336 months)
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