How is interest repaid?
Accrued interest is due and payable on the seventeenth of each calendar month. The member has the option of either voluntarily paying the interest due by the seventeenth of each month or allowing interest to be collected automatically by Southwest Corporate from its main transaction account. The amount collected represents accrued interest due through the last day of the prior calendar month. Repayment by a member of accrued interest is handled in the same way as a loan advance repayment. • What types of Term Loans does Southwest Corporate offer? Southwest Corporate can customize the structure of a Term Loan to meet a member’s needs. For example, Term Loans may be variable or fixed-rate, bullet or amortizing, and may carry specific options such as call dates. Term Loans may carry maturity terms that range from one day to a maximum term of twelve years. A specific or general pledge of collateral is required. Acceptable specific collateral is: • share certificates or shares on deposit wi
