Isabella Bank Mortgage Rates, Fees & Info

Mount Pleasant, MI

LEI: 549300XYX207IABFXL60

Tax ID: 38-0681630

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Isabella Bank is a smaller bank specializing in Home Purchase and Refi loans. Isabella Bank has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Mount Pleasant, Midland, Big Rapids, Saginaw, and Grand Rapids among others. We have data for 21 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Isabella Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Isabella Bank is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.91% 4/28/24
    30 Year Conventional Refi 6.80% 4/28/24
    30 Year Cash-out Refi 6.55% 4/28/24
    30 Year USDA Purchase 7.51% 4/28/24
    15 Year Conventional Purchase 6.30% 4/28/24
    15 Year Conventional Refi 6.33% 4/28/24
    15 Year Cash-out Refi 6.33% 4/28/24
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

    Isabella Bank Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Isabella Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    1,040

    Origination Dollar Volume (All Markets)

    $209,280,000

    Employee count

    330 Show all (15) awards

    Top Markets

    Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

    Market Originations Total Value Average Loan Average Fees Average Rate
    Mount Pleasant, MI (FHA|USDA|VA) 349 $64,355,000 $184,398 $2,515 3.00%
    MIDLAND, MI (FHA|USDA|VA) 104 $25,830,000 $248,365 $2,631 3.13%
    Big Rapids, MI (FHA|USDA|VA) 138 $23,220,000 $168,261 $2,419 2.88%
    Outside of Metro Areas 131 $21,015,000 $160,420 $2,476 2.90%
    SAGINAW, MI (FHA|USDA|VA) 74 $20,370,000 $275,270 $2,606 3.09%
    GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 122 $20,040,000 $164,262 $2,326 2.96%
    BAY CITY, MI (FHA|USDA|VA) 29 $19,015,000 $655,690 $2,752 3.46%
    Alma, MI (FHA|USDA|VA) 52 $6,620,000 $127,308 $2,304 3.09%
    Traverse City, MI (FHA|USDA|VA) 6 $2,040,000 $340,000 $3,170 2.79%
    Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 9 $1,925,000 $213,889 $2,696 2.92%
    ANN ARBOR, MI (FHA|USDA|VA) 3 $1,525,000 $508,333 $0 6.00%
    LANSING-EAST LANSING, MI (FHA|USDA|VA) 8 $880,000 $110,000 $2,189 2.73%
    Houghton, MI (FHA|USDA|VA) 2 $640,000 $320,000 $2,298 3.50%
    FLINT, MI (FHA|USDA|VA) 3 $455,000 $151,667 $2,453 2.83%
    Cadillac, MI (FHA|USDA|VA) 2 $430,000 $215,000 $2,889 3.00%
    Marquette, MI (FHA|USDA|VA) 2 $240,000 $120,000 $2,058 3.13%
    Sault Ste. Marie, MI (FHA|USDA|VA) 2 $220,000 $110,000 $2,237 3.69%
    Holland, MI (FHA|USDA|VA) 1 $155,000 $155,000 $2,125 3.13%
    MUSKEGON, MI (FHA|USDA|VA) 1 $125,000 $125,000 $2,046 2.38%
    Ludington, MI (FHA|USDA|VA) 1 $105,000 $105,000 $2,094 2.63%
    Sturgis, MI (FHA|USDA|VA) 1 $75,000 $75,000 $0 3.95%
    Isabella Bank's top markets include Mount Pleasant, Midland, Big Rapids, Saginaw, and Grand Rapids among others.

    Their top states include:
  • Michigan (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Isabella Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    JOLT CREDIT UNION
    Similarity Rank: 168
    Lake Huron Credit Union
    Similarity Rank: 204
    Polish-American Federal Credit Union
    Similarity Rank: 212
    UNITED FINANCIAL Credit Union
    Similarity Rank: 270
    St James Mortgage Corporation
    Similarity Rank: 304
    Community West Credit Union
    Similarity Rank: 306
    KENT COUNTY CREDIT UNION
    Similarity Rank: 316
    Wanigas Credit Union
    Similarity Rank: 390
    HEALTH ADVANTAGE FEDERAL CREDIT UNION
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    1st State Financial, Ltd.
    Similarity Rank: 528

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,026 $207,380,000 $202,125 $2,460 3.00%
    USDA 14 $1,900,000 $135,714 $3,922 3.34%

    For 2021, Isabella Bank's most frequently originated type of loan was Conventional, with 1,026 originations. Their 2nd most popular type was USDA, with 14 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 420 $108,780,000 $259,000 $2,784 3.07%
    Refi 403 $73,435,000 $182,221 $2,231 3.00%
    Cash Out Refi 170 $22,130,000 $130,176 $2,479 2.77%
    Home Improvement 26 $2,690,000 $103,462 $1,760 3.59%
    Other 21 $2,245,000 $106,905 $2,102 3.08%

    For 2021, Isabella Bank's most frequently cited loan purpose was Home Purchase, with 420 originations. The 2nd most popular reason was Refi, with 403 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 461 $81,905,000 $177,668 $2,726 2.90%
    15 Year 295 $39,965,000 $135,475 $2,073 2.79%
    20 Year 159 $63,555,000 $399,717 $2,274 3.37%
    Other 40 $9,840,000 $246,000 $2,219 3.62%
    10 Year 37 $2,815,000 $76,081 $1,535 3.87%
    30+ year 34 $10,490,000 $308,529 $3,927 2.66%
    5 Year 12 $500,000 $41,667 $1,258 3.74%
    1 Year 1 $125,000 $125,000 $0 4.50%
    3 Year 1 $85,000 $85,000 $0 4.50%

    For 2021, Isabella Bank's most frequently cited loan duration was 30 Year, with 461 originations. The 2nd most popular length was 15 Year, with 295 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 689 $112,335,000 $163,041
    $1k-2k 129 $19,975,000 $154,845
    $2k-3k 46 $9,580,000 $208,261
    $3k-4k 21 $4,435,000 $211,190
    $4k-5k 6 $1,280,000 $213,333
    $5k+ 1 $255,000 $255,000

    Isabella Bank's average total fees were $2,726, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 689 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 488 $84,420,000 $172,992
    3-4% 230 $75,400,000 $327,826
    <2.5% 226 $35,240,000 $155,929
    4-5% 79 $11,135,000 $140,949
    5-6% 16 $3,000,000 $187,500
    6-7% 1 $85,000 $85,000

    During 2021, Isabella Bank's average interest rate for loans was 2.90%, while their most frequently originated rate bucket for loans was 2.5-3%, with 488 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 432 $61,780,000 $143,009 $2,470 2.94%
    $100,000 or less 325 $22,055,000 $67,862 $2,011 3.15%
    $200k-400k 221 $57,855,000 $261,787 $2,930 2.86%
    $400k-600k 37 $17,545,000 $474,189 $3,204 3.04%
    $600k-1MM 14 $9,890,000 $706,429 $3,492 3.50%
    $1MM+ 11 $40,155,000 $3,650,455 $5,472 3.69%

    2021 saw Isabella Bank place emphasis on $100k-200k loans with 432 originations, totaling $61,780,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 233 $30,425,000 $130,579 $2,438 2.84%
    $50k or less 198 $19,700,000 $99,495 $2,304 2.85%
    $100k-150k 164 $33,140,000 $202,073 $2,621 2.83%
    $75k-100k 140 $22,780,000 $162,714 $2,571 2.81%
    $150k-250k 88 $23,070,000 $262,159 $2,779 2.77%
    $250k+ 43 $14,415,000 $335,233 $2,864 2.74%

    Isabella Bank lent most frequently to those with incomes in the $50k-75k range, with 233 originations. The second most popular income band? $50k or less, with 198 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 286 $46,620,000 $163,007 $2,512 2.79%
    30-36% 188 $30,650,000 $163,032 $2,346 2.82%
    <20% 175 $27,795,000 $158,829 $2,499 2.76%
    36% 33 $5,305,000 $160,758 $2,347 2.82%
    39% 32 $5,620,000 $175,625 $2,490 2.88%
    38% 30 $5,740,000 $191,333 $2,722 3.02%
    37% 24 $4,030,000 $167,917 $2,488 2.83%
    40% 22 $4,220,000 $191,818 $2,893 2.88%
    41% 21 $3,155,000 $150,238 $2,412 2.83%
    44% 17 $3,965,000 $233,235 $3,112 2.79%
    43% 16 $2,310,000 $144,375 $2,457 2.88%
    45% 13 $2,905,000 $223,462 $2,564 2.99%
    42% 10 $1,890,000 $189,000 $2,913 2.89%
    48% 10 $1,190,000 $119,000 $2,382 3.06%
    46% 8 $1,060,000 $132,500 $2,499 2.67%
    47% 6 $830,000 $138,333 $1,978 2.85%
    49% 6 $1,090,000 $181,667 $2,774 3.04%
    50-60% 5 $495,000 $99,000 $2,169 2.93%
    >60% 3 $535,000 $178,333 $1,609 2.79%

    Isabella Bank lent most frequently to those with DTI ratios of 20-30%, with 286 originations. The next most common DTI ratio? 30-36%, with 188 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 890 $145,220,000 $163,169 $2,486 2.90%
    Not applicable 85 $52,585,000 $618,647 $0 4.26%
    Not provided 46 $8,700,000 $189,130 $2,469 2.86%
    American Indian 7 $1,345,000 $192,143 $2,709 2.66%
    Asian 5 $645,000 $129,000 $2,231 2.73%
    Black 5 $595,000 $119,000 $2,141 2.65%
    Native Hawaiian or Islander 2 $190,000 $95,000 $2,033 2.56%

    Approval Rates

    Total approvals of all applications
    88.10%

    Isabella Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    83.17%

    Isabella Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,040 $209,280,000 $201,231

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,040 $209,280,000 $201,231

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 110 $10,770,000 $97,909 $1,951 3.02%
    40-60% 195 $31,695,000 $162,538 $2,149 2.97%
    60-80% 412 $88,330,000 $214,393 $2,527 3.00%
    80-100% 294 $75,260,000 $255,986 $2,907 2.96%
    Over 100% 2 $580,000 $290,000 $0 3.88%
    Under 20% 22 $2,420,000 $110,000 $1,240 3.97%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Isabella Bank 1402 East Center Ithaca, MI 48847 Full Service B&M $55,806
    Isabella Bank 1125 North Mcewan Street Clare, MI 48617 Limited, Drive-thru $0
    Isabella Bank 125 N. Coldwater Rd Lake Isabella, MI 48893 Full Service B&M $7,363
    Isabella Bank 131 N State St Stanton, MI 48888 Full Service B&M $32,215
    Isabella Bank 1402 West High Street Mount Pleasant, MI 48858 Full Service B&M $90,432
    Isabella Bank 1405 West Washington Street Greenville, MI 48838 Full Service B&M $126,489
    Isabella Bank 1416 East Pickard Street Mount Pleasant, MI 48858 Full Service B&M $166,168
    Isabella Bank 16490 Gratiot Road Hemlock, MI 48626 Full Service B&M $43,725
    Isabella Bank 1876 North Winn Road Weidman, MI 48893 Full Service B&M $30,320
    Isabella Bank 200 East Broadway Mount Pleasant, MI 48858 Full Service B&M $212,844
    Isabella Bank 200 S University Mount Pleasant, MI 48858 Limited, Drive-thru $0
    Isabella Bank 203 East Genesee Avenue Saginaw, MI 48607 Full Service B&M $2,860
    Isabella Bank 210 S Saginaw Street Midland, MI 48640 Full Service B&M $29,255
    Isabella Bank 2127 South Mission Street Mount Pleasant, MI 48858 Full Service B&M $127,242
    Isabella Bank 21440 Perry St Big Rapids, MI 49307 Full Service B&M $55,802
    Isabella Bank 220 West Wheatland Street Remus, MI 49340 Full Service B&M $39,342
    Isabella Bank 2222 N. Saginaw Road Midland, MI 48640 Full Service B&M $55,413
    Isabella Bank 240 East Northern Avenue Barryton, MI 49305 Full Service B&M $24,948
    Isabella Bank 313 West Bridge Street Six Lakes, MI 48886 Full Service B&M $47,552
    Isabella Bank 316 East Saginaw Street Breckenridge, MI 48615 Full Service B&M $95,924
    Isabella Bank 3388 North Woodruff Road Weidman, MI 48893 Full Service B&M $49,763
    Isabella Bank 399 South Main Street Freeland, MI 48623 Full Service B&M $31,694
    Isabella Bank 399 West Main Street Farwell, MI 48622 Full Service B&M $59,886
    Isabella Bank 401 East Main Street Blanchard, MI 49310 Full Service B&M $25,208
    Isabella Bank 4975 Bay Road Saginaw, MI 48604 Full Service B&M $38,835
    Isabella Bank 500 East Wright Avenue Shepherd, MI 48883 Full Service B&M $53,782
    Isabella Bank 532 Mcewan Clare, MI 48617 Full Service B&M $71,506
    Isabella Bank 711 Maple Street Big Rapids, MI 49307 Full Service B&M $5,479
    Isabella Bank 8225 West Ludington Drive Lake, MI 48632 Full Service B&M $9,419
    Isabella Bank 8351 100th Avenue Canadian Lakes, MI 49346 Full Service B&M $75,673

    For 2021, Isabella Bank had 30 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $60,223
    Net interest income $53,462
    Total noninterest income $14,513
    Gross Fiduciary activities income $2,707
    Service charges on deposit accounts $2,224
    Trading account gains and fees $0
    Additional Noninterest Income $9,582
    Pre-tax net operating income $26,054
    Securities gains (or losses, -) $0
    Income before extraordinary items $21,713
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $21,713
    Minority interest net income $0
    Net income $21,713
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $21,713

    Isabella Bank's gross interest income from loans was $60,223,000.
    Isabella Bank's net interest income from loans was $53,462,000.
    Isabella Bank's fee based income from loans was $2,224,000.
    Isabella Bank's net income from loans was $21,713,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $6,761
    Provision for credit losses $-518
    Total noninterest expense $42,439
    Salaries and employee benefits $23,741
    Premises and equipment expense $8,145
    Additional noninterest expense $10,553
    Applicable income taxes $4,341
    Net charge-offs $123
    Cash dividends $3,600

    Isabella Bank's interest expense for loans was $6,761,000.
    Isabella Bank's payroll and benefits expense were $23,741,000.
    Isabella Bank's property, plant and equipment expenses $8,145,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $1,722,405
    Deposits held in domestic offices $1,722,405
    Deposits by Individuals, partnerships, and corporations $1,483,249
    Deposits by U.S. Government $952
    Deposits by States and political subdivisions in the U.S. $222,080
    Deposits by Commercial banks and other depository institutions in U.S. $16,124
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $813,881
    Demand deposits $813,881
    Nontransaction accounts $908,524
    Money market deposit accounts (MMDAs) $314,679
    Other savings deposits (excluding MMDAs) $293,082
    Total time deposits $300,763
    Total time and savings deposits $908,524
    Noninterest-bearing deposits $449,317
    Interest-bearing deposits $1,273,088
    Retail deposits $1,643,822
    IRAs and Keogh plan accounts $52,725
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,982,186
    Cash & Balances due from depository institutions $105,287
    Interest-bearing balances $79,768
    Total securities $490,601
    Federal funds sold & reverse repurchase $0
    Net loans and leases $1,293,669
    Loan and leases loss allowance $9,103
    Trading account assets $0
    Bank premises and fixed assets $22,139
    Other real estate owned $150
    Goodwill and other intangibles $6,860
    All other assets $63,480

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,982,186
    Total Liabilities $1,804,338
    Total deposits $1,722,405
    Interest-bearing deposits $1,273,088
    Deposits held in domestic offices $1,722,405
    % insured (estimated) $68
    Federal funds purchased and repurchase agreements $50,162
    Trading liabilities $0
    Other borrowed funds $20,000
    Subordinated debt $0
    All other liabilities $11,771

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,293,669
    Loan and leases loss allowance $9,103
    Total loans and leases (domestic) $1,302,772
    All real estate loans $964,107
    Real estate loans in domestic offices $964,107
    Construction and development loans $22,452
    Residential 1-4 family construction $9,927
    Other construction, all land development and other land $12,525
    Loans secured by nonfarm nonresidential properties $390,551
    Nonfarm nonresidential secured by owner-occupied properties $189,468
    Commercial real estate & other non-farm, non-residential $201,083
    Multifamily residential real estate $86,531
    1-4 family residential loans $396,840
    Farmland loans $67,733
    Loans held in foreign offices $0
    Farm loans $28,193
    Commercial and industrial loans $154,050
    To non-U.S. addressees $0
    Loans to individuals $73,209
    Credit card loans $0
    Related Plans $477
    Consumer Auto Loans $28,050
    Other loans to individuals $44,682
    All other loans & leases $83,213
    Loans to foreign governments and official institutions $0
    Other loans $81,718
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $25,236
    Non 1-4 family restructured loans & leases $20,547
    Total loans and leases (foreign) $0

    Isabella Bank had $1,293,669,000 of loans outstanding in 2021. $964,107,000 of loans were in real estate loans. $22,452,000 of loans were in development loans. $86,531,000 of loans were in multifamily mortgage loans. $396,840,000 of loans were in 1-4 family mortgage loans. $28,193,000 of loans were in farm loans. $0 of loans were in credit card loans. $28,050,000 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 572 $126,509 $221,170
    Nonfarm, nonresidential loans - <$100k 146 $6,593 $45,158
    Nonfarm, nonresidential loans - $100-250k 215 $27,521 $128,005
    Nonfarm, nonresidential loans - $250k-1MM 211 $92,395 $437,891
    Commercial & Industrial, US addressed loans - <$1MM 1,433 $109,382 $76,331
    Commercial & Industrial, US addressed loans - <$100k 1,037 $26,765 $25,810
    Commercial & Industrial, US addressed loans - $100-250k 228 $25,347 $111,171
    Commercial & Industrial, US addressed loans - $250k-1MM 168 $57,270 $340,893
    Farmland loans - <$1MM 278 $34,729 $124,924
    Farmland loans - <$100k 120 $5,599 $46,658
    Farmland loans - $100-250k 102 $13,243 $129,833
    Farmland loans - $250k-1MM 56 $15,887 $283,696
    Agriculture operations loans - <$1MM 349 $15,547 $44,547
    Agriculture operations loans - <$100k 286 $6,211 $21,717
    Agriculture operations loans - $100-250k 47 $4,798 $102,085
    Agriculture operations loans - $250k-1MM 16 $4,538 $283,625