Interbank $43 Million Amortizing Loan Repayment Schedule
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Summary
This document outlines the repayment schedule for a $43 million loan from Interbank. The loan carries a 10.60% effective annual interest rate and is to be repaid over 60 months, with a 12-month grace period during which only interest is paid. After the grace period, the principal is gradually repaid through monthly amortization payments until the loan is fully paid off at the end of the term.
EX-10.2 3 v155350_ex10-2.htm
INTERBANK Monthly Debt
| 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | |||||||||||||||||||||||||||||
| YEAR X | ||||||||||||||||||||||||||||||||||||||||
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Set | Oct | Nov | Dec | |||||||||||||||||||||||||||||
| Principal | $ | 43,000,000 | ||||||||||||||||||||||||||||||||||||||
| Effective Annual Rate | 10.60 | % | ||||||||||||||||||||||||||||||||||||||
| Effective Monthly Rate | 0.84 | % | ||||||||||||||||||||||||||||||||||||||
| Amortization Period (months) | 60 | |||||||||||||||||||||||||||||||||||||||
| Grace Period (months) | 12 | |||||||||||||||||||||||||||||||||||||||
| YEAR 1 | ||||||||||||||||||||||||||||||||||||||||
| Beginning Balance | $ | 43,000,000 | $ | 43,000,000 | $ | 43,000,000 | $ | 43,000,000 | $ | 43,000,000 | $ | 43,000,000 | $ | 43,000,000 | $ | 43,000,000 | $ | 43,000,000 | $ | 43,000,000 | $ | 43,000,000 | $ | 43,000,000 | ||||||||||||||||
| Amortization | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||||||||
| Interest | $ | 362,540 | $ | 362,540 | $ | 362,540 | $ | 362,540 | $ | 362,540 | $ | 362,540 | $ | 362,540 | $ | 362,540 | $ | 362,540 | $ | 362,540 | $ | 362,540 | $ | 362,540 | ||||||||||||||||
| Payment | $ | 362,540 | $ | 362,540 | $ | 362,540 | $ | 362,540 | $ | 362,540 | $ | 362,540 | $ | 362,540 | $ | 362,540 | $ | 362,540 | $ | 362,540 | $ | 362,540 | $ | 362,540 | ||||||||||||||||
| Ending Balance | $ | 43,000,000 | $ | 43,000,000 | $ | 43,000,000 | $ | 43,000,000 | $ | 43,000,000 | $ | 43,000,000 | $ | 43,000,000 | $ | 43,000,000 | $ | 43,000,000 | $ | 43,000,000 | $ | 43,000,000 | $ | 43,000,000 | ||||||||||||||||
| YEAR 2 | ||||||||||||||||||||||||||||||||||||||||
| Beginning Balance | $ | 43,000,000 | $ | 42,850,000 | $ | 42,700,000 | $ | 42,550,000 | $ | 42,400,000 | $ | 42,250,000 | $ | 42,100,000 | $ | 41,850,000 | $ | 41,600,000 | $ | 41,350,000 | $ | 41,100,000 | $ | 40,850,000 | ||||||||||||||||
| Amortization | $ | 150,000 | $ | 150,000 | $ | 150,000 | $ | 150,000 | $ | 150,000 | $ | 150,000 | $ | 250,000 | $ | 250,000 | $ | 250,000 | $ | 250,000 | $ | 250,000 | $ | 250,000 | ||||||||||||||||
| Interest | $ | 362,540 | $ | 361,276 | $ | 360,011 | $ | 358,746 | $ | 357,482 | $ | 356,217 | $ | 354,952 | $ | 352,844 | $ | 350,737 | $ | 348,629 | $ | 346,521 | $ | 344,413 | ||||||||||||||||
| Payment | $ | 512,540 | $ | 511,276 | $ | 510,011 | $ | 508,746 | $ | 507,482 | $ | 506,217 | $ | 604,952 | $ | 602,844 | $ | 600,737 | $ | 598,629 | $ | 596,521 | $ | 594,413 | ||||||||||||||||
| Ending Balance | $ | 42,850,000 | $ | 42,700,000 | $ | 42,550,000 | $ | 42,400,000 | $ | 42,250,000 | $ | 42,100,000 | $ | 41,850,000 | $ | 41,600,000 | $ | 41,350,000 | $ | 41,100,000 | $ | 40,850,000 | $ | 40,600,000 | ||||||||||||||||
| YEAR 3 | ||||||||||||||||||||||||||||||||||||||||
| Beginning Balance | $ | 40,600,000 | $ | 40,100,000 | $ | 39,600,000 | $ | 39,100,000 | $ | 38,600,000 | $ | 38,100,000 | $ | 37,600,000 | $ | 37,100,000 | $ | 36,600,000 | $ | 36,100,000 | $ | 35,600,000 | $ | 35,100,000 | ||||||||||||||||
| Amortization | $ | 500,000 | $ | 500,000 | $ | 500,000 | $ | 500,000 | $ | 500,000 | $ | 500,000 | $ | 500,000 | $ | 500,000 | $ | 500,000 | $ | 500,000 | $ | 500,000 | $ | 500,000 | ||||||||||||||||
| Interest | $ | 342,305 | $ | 338,090 | $ | 333,874 | $ | 329,659 | $ | 325,443 | $ | 321,228 | $ | 317,012 | $ | 312,796 | $ | 308,581 | $ | 304,365 | $ | 300,150 | $ | 295,934 | ||||||||||||||||
| Payment | $ | 842,305 | $ | 838,090 | $ | 833,874 | $ | 829,659 | $ | 825,443 | $ | 821,228 | $ | 817,012 | $ | 812,796 | $ | 808,581 | $ | 804,365 | $ | 800,150 | $ | 795,934 | ||||||||||||||||
| Ending Balance | $ | 40,100,000 | $ | 39,600,000 | $ | 39,100,000 | $ | 38,600,000 | $ | 38,100,000 | $ | 37,600,000 | $ | 37,100,000 | $ | 36,600,000 | $ | 36,100,000 | $ | 35,600,000 | $ | 35,100,000 | $ | 34,600,000 | ||||||||||||||||
| YEAR 4 | ||||||||||||||||||||||||||||||||||||||||
| Beginning Balance | $ | 34,600,000 | $ | 33,850,000 | $ | 33,100,000 | $ | 32,350,000 | $ | 31,600,000 | $ | 30,850,000 | $ | 30,100,000 | $ | 29,350,000 | $ | 28,600,000 | $ | 27,850,000 | $ | 27,100,000 | $ | 26,350,000 | ||||||||||||||||
| Amortization | $ | 750,000 | $ | 750,000 | $ | 750,000 | $ | 750,000 | $ | 750,000 | $ | 750,000 | $ | 750,000 | $ | 750,000 | $ | 750,000 | $ | 750,000 | $ | 750,000 | $ | 750,000 | ||||||||||||||||
| Interest | $ | 291,718 | $ | 285,395 | $ | 279,072 | $ | 272,748 | $ | 266,425 | $ | 260,102 | $ | 253,778 | $ | 247,455 | $ | 241,131 | $ | 234,808 | $ | 228,485 | $ | 222,161 | ||||||||||||||||
| Payment | $ | 1,041,718 | $ | 1,035,395 | $ | 1,029,072 | $ | 1,022,748 | $ | 1,016,425 | $ | 1,010,102 | $ | 1,003,778 | $ | 997,455 | $ | 991,131 | $ | 984,808 | $ | 978,485 | $ | 972,161 | ||||||||||||||||
| Ending Balance | $ | 33,850,000 | $ | 33,100,000 | $ | 32,350,000 | $ | 31,600,000 | $ | 30,850,000 | $ | 30,100,000 | $ | 29,350,000 | $ | 28,600,000 | $ | 27,850,000 | $ | 27,100,000 | $ | 26,350,000 | $ | 25,600,000 | ||||||||||||||||
| YEAR 5 | ||||||||||||||||||||||||||||||||||||||||
| Beginning Balance | $ | 25,600,000 | $ | 24,533,333 | $ | 23,466,667 | $ | 22,400,000 | $ | 21,333,333 | $ | 20,266,667 | $ | 19,200,000 | $ | 18,133,333 | $ | 17,066,667 | $ | 16,000,000 | $ | 14,933,333 | $ | 13,866,667 | ||||||||||||||||
| Amortization | $ | 1,066,667 | $ | 1,066,667 | $ | 1,066,667 | $ | 1,066,667 | $ | 1,066,667 | $ | 1,066,667 | $ | 1,066,667 | $ | 1,066,667 | $ | 1,066,667 | $ | 1,066,667 | $ | 1,066,667 | $ | 1,066,667 | ||||||||||||||||
| Interest | $ | 215,838 | $ | 206,845 | $ | 197,851 | $ | 188,858 | $ | 179,865 | $ | 170,872 | $ | 161,878 | $ | 152,885 | $ | 143,892 | $ | 134,899 | $ | 125,905 | $ | 116,912 | ||||||||||||||||
| Payment | $ | 1,282,505 | $ | 1,273,511 | $ | 1,264,518 | $ | 1,255,525 | $ | 1,246,532 | $ | 1,237,538 | $ | 1,228,545 | $ | 1,219,552 | $ | 1,210,559 | $ | 1,201,565 | $ | 1,192,572 | $ | 1,183,579 | ||||||||||||||||
| Ending Balance | $ | 24,533,333 | $ | 23,466,667 | $ | 22,400,000 | $ | 21,333,333 | $ | 20,266,667 | $ | 19,200,000 | $ | 18,133,333 | $ | 17,066,667 | $ | 16,000,000 | $ | 14,933,333 | $ | 13,866,667 | $ | 12,800,000 | ||||||||||||||||
| YEAR 6 | ||||||||||||||||||||||||||||||||||||||||
| Beginning Balance | $ | 12,800,000 | $ | 11,733,333 | $ | 10,666,667 | $ | 9,600,000 | $ | 8,533,333 | $ | 7,466,667 | $ | 6,400,000 | $ | 5,333,333 | $ | 4,266,667 | $ | 3,200,000 | $ | 2,133,333 | $ | 1,066,667 | ||||||||||||||||
| Amortization | $ | 1,066,667 | $ | 1,066,667 | $ | 1,066,667 | $ | 1,066,667 | $ | 1,066,667 | $ | 1,066,667 | $ | 1,066,667 | $ | 1,066,667 | $ | 1,066,667 | $ | 1,066,667 | $ | 1,066,667 | $ | 1,066,667 | ||||||||||||||||
| Interest | $ | 107,919 | $ | 98,926 | $ | 89,932 | $ | 80,939 | $ | 71,946 | $ | 62,953 | $ | 53,959 | $ | 44,966 | $ | 35,973 | $ | 26,980 | $ | 17,986 | $ | 8,993 | ||||||||||||||||
| Payment | $ | 1,174,586 | $ | 1,165,592 | $ | 1,156,599 | $ | 1,147,606 | $ | 1,138,613 | $ | 1,129,619 | $ | 1,120,626 | $ | 1,111,633 | $ | 1,102,640 | $ | 1,093,646 | $ | 1,084,653 | $ | 1,075,660 | ||||||||||||||||
| Ending Balance | $ | 11,733,333 | $ | 10,666,667 | $ | 9,600,000 | $ | 8,533,333 | $ | 7,466,667 | $ | 6,400,000 | $ | 5,333,333 | $ | 4,266,667 | $ | 3,200,000 | $ | 2,133,333 | $ | 1,066,667 | $ | 0 | ||||||||||||||||
