Wednesday, September 5, 2012

Owner Loan Progress

We did not reach our goal of $500,000 in Owner Loans by August 31st, but we have collected over $400,000 in Owner Loans.  We are well over half way to our goal of $600,000 in Owner Loans.  Thank you.  If you haven't lent yet, there is still time.  We plan to continue collecting Owner Loans until we reach our goal of $600,000.  Since we have had such a great response to the Owner Loan Program, some of the terms have filled.  Our 8 and 9 year loan slots are full, but there is still plenty of space in the 6 and 7 year terms.  E-mail jennifer@cookcounty.coop or call (218) 387-1939 if you would like to reserve space in a specific term or if you have questions about the Owner Loan Program.

Owner Loan Rates and Terms
Amount 5 YRS 6 YRS 7 YRS 8 yrs-full 9 yrs-full
$1,000-4,000 2.00% 2.25% 2.50% 3.00% 3.75%
$5,000-9,999 2.50% 2.75% 3.00% 3.50% 4.25%
$10,000 and up 3.00% 3.25% 3.50% 4.00% 5.00%