For a standard fixed-rate loan at Windmill Microlending, the interest rate is fixed at 6.7%. Here's an overview of the repayment details based on different loan terms and amounts:
- Loan Amount: $15,000
- Interest-Only Payment Period(6-24 month term):
- Interest-only payments: Approximately $76 per month
- Principal and Interest Repayments(36 month term):
- Total monthly repayments: Approximately $455.99
Please note that terms may vary for loans with a variable interest rate or a cost-plus structure, leading to different repayment terms and details. Quebec residents who require funds exclusively for credential recognition are subject to different loan terms.
Minimum Loan Amount: The minimum amount to borrow is $2,000.
For more comprehensive information about our loan programs and products, please visit our website at https://www.windmillmicrolending.org/. Or call us at 1 (855) 423-2262. We're here to assist!