I just spoke with a lender this morning who offered a loan that adjusts each quarter (Prime + 2%). I didn't know such a thing existed and assumed rates were fixed on a SBA 7a. Is this real? It sounded sketchy to me so I thought someone on here could set me straight. :)
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Bank 1: P + 1.75, quarterly floating only
Bank 2: P + 1.75 quarterly floating or P + ###-###-#### year fixed
Bank 3: P + 175 quarterly floating or P + ###-###-#### yr fixed or P+2.25 5yr fixed