Pricing, posted
Fair, not cheap.
A fair price for the risk, printed in dollars before you sign: a fixed rate from a published band, 1.5 points at funding, and nothing if the loan does not close.
Ref. P-1 · Businesses
8.5% to 12%, plus 1.5 points.
| Interest rate | 8.5% to 12% a year, fixed for the life of the note, set by your Tenon Score tier. |
|---|---|
| Origination | 1.5% of the funded amount, once. Invoiced by Tenon, LLC after you confirm the loan money arrived; you pay it by ACH or wire. Tenon never debits your account, and the fee is never deducted from the loan. If the loan does not close, there is no fee. |
| Application fee | None. |
| Payments | Monthly, level, interest included, by ACH directly to each lender. |
| Prepayment | No penalty. Pay it off any month. |
| Late payment | 5% of the payment after 5 days, payable to the lender. |
| Tier | Score | Rate | Points |
|---|---|---|---|
| Tier A | 80 to 100 | 8.5% | 1.5 |
| Tier B | 65 to 79 | 10% | 1.5 |
| Tier C | 50 to 64 | 12% | 1.5 |
The credit box decides yes or no; the tier sets the rate inside the band. Below 50 is a written decline with the reasons.
Ref. P-2 · Check our math.
A worked example, to the cent.
A $100,000 loan over 24 months at 10%, the Tier B rate. An illustration, not a quote: your rate is set by your score tier.
- Amount borrowed$100,000.00
- Monthly payment, payments 1 to 23$4,614.49
- Final payment (24th)$4,614.57
- Total you will pay back$110,747.84
- Interest over the term$10,747.84
- 1.5 points at funding, invoiced$1,500.00
- Total dollar cost (interest + points)$12,247.84
Level payment, rounded to the cent. Each month’s interest is the balance × 10% ÷ 12 (30/360), rounded to the cent, so the final payment absorbs the leftover cents. The exact schedule, day count and Utah commercial-financing disclosure are in your closing documents before you sign.
Show all 24 payments
| No. | Payment | Interest | Principal | Balance |
|---|---|---|---|---|
| 1 | $4,614.49 | $833.33 | $3,781.16 | $96,218.84 |
| 2 | $4,614.49 | $801.82 | $3,812.67 | $92,406.17 |
| 3 | $4,614.49 | $770.05 | $3,844.44 | $88,561.73 |
| 4 | $4,614.49 | $738.01 | $3,876.48 | $84,685.25 |
| 5 | $4,614.49 | $705.71 | $3,908.78 | $80,776.47 |
| 6 | $4,614.49 | $673.14 | $3,941.35 | $76,835.12 |
| 7 | $4,614.49 | $640.29 | $3,974.20 | $72,860.92 |
| 8 | $4,614.49 | $607.17 | $4,007.32 | $68,853.60 |
| 9 | $4,614.49 | $573.78 | $4,040.71 | $64,812.89 |
| 10 | $4,614.49 | $540.11 | $4,074.38 | $60,738.51 |
| 11 | $4,614.49 | $506.15 | $4,108.34 | $56,630.17 |
| 12 | $4,614.49 | $471.92 | $4,142.57 | $52,487.60 |
| 13 | $4,614.49 | $437.40 | $4,177.09 | $48,310.51 |
| 14 | $4,614.49 | $402.59 | $4,211.90 | $44,098.61 |
| 15 | $4,614.49 | $367.49 | $4,247.00 | $39,851.61 |
| 16 | $4,614.49 | $332.10 | $4,282.39 | $35,569.22 |
| 17 | $4,614.49 | $296.41 | $4,318.08 | $31,251.14 |
| 18 | $4,614.49 | $260.43 | $4,354.06 | $26,897.08 |
| 19 | $4,614.49 | $224.14 | $4,390.35 | $22,506.73 |
| 20 | $4,614.49 | $187.56 | $4,426.93 | $18,079.80 |
| 21 | $4,614.49 | $150.67 | $4,463.82 | $13,615.98 |
| 22 | $4,614.49 | $113.47 | $4,501.02 | $9,114.96 |
| 23 | $4,614.49 | $75.96 | $4,538.53 | $4,576.43 |
| 24 | $4,614.57 | $38.14 | $4,576.43 | $0.00 |
| Total | $110,747.84 | $10,747.84 | $100,000.00 |
Check: the principal column adds to $100,000.00 and the interest column to $10,747.84.
Ref. P-3 · Comparing offers
How to compare any offer.
Tenon will not tell you what other lenders charge. It will tell you what to ask every one of them, including Tenon. Utah requires these disclosures from registered commercial-financing providers; Tenon puts them in every closing package regardless.
Total funds provided
And the amount actually disbursed to you. Here they are the same unless you direct part of it to pay off an existing creditor at closing.
Total you will pay back
Every payment added up, over the whole term.
Total dollar cost
The difference between those two numbers. The one figure that makes offers comparable.
Payment amount and frequency
Monthly, weekly or daily, and whether it can change.
Prepayment terms
Whether paying early costs you anything, and where in the agreement that is written.
Who holds the note
A named person or company, or a pool you will never meet.
Ref. P-4 · Member lenders
$100 to $150 per note, per year.
Tenon’s only charge to a member lender: a flat administration fee per note, set in the lender agreement.
| Administration fee | A flat annual amount per note, inside this range. Covers the schedule, reminders, reconciliation, statements and year-end interest reporting on that note. |
|---|---|
| Success fee | None. A member pays Tenon nothing when it pledges or when a loan closes. |
| Share of interest | None. Tenon takes no part of the interest on any note. |
| Onboarding | No fee. It does take about an hour of paperwork. |
Two doors. One set of rules.
Come on in. Bring your numbers.
I run a business and need a loan.
Read the credit box, check the math, and send a short interest form. A person replies, and the answer comes with its reason.
Apply