What is the borrowing interest rate Michigan

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Calculation Example:
For a loan of USD 100,000 at an annual interest rate of 10%, with a term of 1 year, the total repayment amount will be USD 105,499.06, including monthly payments of USD 8,791.59.

Important Note:
The consequences of non-payment are subject to U.S. legislation. Borrowers are encouraged to review all terms and conditions carefully before proceeding.

    What is the loan rate?

    If the company fulfills the conditions of maintaining employment for one year and has no debt to the social insurance company or health insurance companies at the end of that year, the interest rate after the subsidy from the Ministry of Finance will be 2.76%.

    If the company does not meet any of these conditions, it will pay a higher rate of 7.06%.

    What is the loan amount?

    The loan can be drawn in the amount of annual contributions for permanent employees. The minimum loan amount is 10,000, the maximum is 350,000.

    Who can apply for a loan?

    The loan is intended for small and medium-sized enterprises, i.e. companies with less than 250 employees and:
       a) their annual turnover is less than 50 million;
       b) their balance sheet amount is less than 43 million.

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