BUSINESS LOANS
Our Commercial Lending team, along with the Board of Directors, understands the local business community and has designed a wide range of financing options. We look forward to learning more about you and your business and to customizing a loan package that best meets your unique business needs.
Commercial Mortgages
- Fixed and variable rates available. Variable rate tied to current index. Fixed rate for five years with index reset
- Ten year maximum term with 25 year amortization
- Available for retail, professional, manufacturing or warehouse operations
- Can be used for:
- Expansion, renovations, tenant improvements
- Refinance existing mortgage
- May qualify for government assistance
Construction Financing
- Standard term up to two years for acquisition and improvement projects
- Permanent mortgage financing options available
- Flexible and customized terms can be provided
Business Line of Credit
- Variable interest rate charged only on amount accessed
- Use for a variety of reasons:
- Purchase inventory
- Finance accounts receivable
- Seasonal cash flow requirements
- Fund business opportunity
- Take advantage of cash discounts
- May qualify for government assistance
- Revolving credit with a three year maturity
Business Term Loan
- Borrow a defined amount for a specific period of time
- Interest rate may be fixed or variable
- Loan may be secured or unsecured, depending upon purpose, maturity and credit strength
- Ideal for:
- Purchase of equipment or fixed assets
- Long term working capital
- Improvements or upgrades in communications or computers
- Acquisitions, partner or shareholder buyouts
- May qualify for government assistance
Small Business Line of Credit
- Lines up to $50,000 available
- Access cash simply by writing a check
- Variable interest rate charged only on amount accessed
- Low monthly principal payment requirement
- Terms up to three years are available
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