Business Loans

This type of loan provides a set amount of money to purchase assets or meet another specific financing need. Repayment is based on a predetermined schedule or by making monthly principal and interest payments. A term loan can be secured or unsecured, and the interest rate is generally fixed for the life of the loan.

• Loan proceeds can be used for fixed asset acquisition, permanent working capital, refinance existing debt or other business purposes.
• Loan terms generally range from 12 to 84 months.
• Fixed rate or variable rate loans.
• Collateral consists of assets being purchased or other assets owned by borrower/guarantor.
• Regular monthly payments of principal and interest.

This type of loan is generally used for short-term working capital or bridge financing. The interest rate may be fixed or variable, with interest generally paid on a monthly basis.

• Loan proceeds are generally used for short-term working capital or bridge financing.
• Loan terms do not exceed 24 months.
• Fixed rate or variable rate loans.
• Loans are either secured or unsecured.
• Interest is generally payable on a monthly basis.
• The outstanding principal balance is payable at maturity.

With a line of credit, you can easily tap pre-approved funds when you need them without having to wait for bank approval. These funds can be used for a variety of business purposes, from meeting short-term working capital needs to purchasing inventory.

• Revolving, short-term working capital financing.
• Either secured or unsecured.
• Periodic renewal.
• Interest only payments due monthly.
• Periodic principal repayment.

With a commercial mortgage, you can purchase, expand, improve or refinance owner-occupied commercial property.

• Loan proceeds are used for the acquisition or improvement of commercial real estate, or to refinance existing debt.
• Loan terms are available up to 20 years.
• Fixed rate or variable rate loans.
• Loans are secured by commercial real estate.
• Regular monthly payments of principal and interest.

These loans can help finance the construction of new buildings, improvements to existing buildings, and land acquisition.

• Construction only, mini-permanent or permanent construction financing available.
• Loan proceeds can be used for the acquisition of land and the construction of a new structure or significant improvements to an existing structure.
• Loan term for construction only generally does not exceed 12 months.
• Permanent financing is available for terms up to 20 years.
• Fixed rate or variable rate loans.
• Loans are secured by commercial real estate.
• Interest only payments during the construction period, followed by regular monthly payments of principal and interest thereafter.

A letter of credit is an assurance that your company has the financial resources to perform as agreed under contract.

• Stand-by letter of credit used to assure payment to a beneficiary in the event the borrower fails to pay or perform.
• Secured or unsecured
• Specific maturity, generally one year.
• Interest payments monthly if drawn upon; principal will be payable on demand.

Public entities, municipalities and school districts often need financing for a wide range of different purposes.

• Financing is available for various purposes including real estate acquisition and improvement, tax anticipation financing and other general purposes.
• Terms vary based on purpose.
• Generally secured by the full faith, credit and taxing authority of the public entity.
• Fixed rate and variable rate loans.