Calculating Fees on a Loan Commitment You have approached your local bank for a start-up loan commitment for $2,700,000 needed to open an auto repair store. You have requested that the term of the loan be one-year. Your bank has offered you the following terms: size of loan commitment = $2,700,000, term = 1 year, up-front fee = 25 basis points, back-end fee = 40 basis points. If you take down 95 percent of the total loan commitment, calculate the total fees you have paid on this loan commitment.