Business Banking

Business Lending

Commercial Line of Credit

A Commercial Line of Credit is extended to businesses allowing access to borrowings up to a pre-approved loan amount, to be used for specific purposes with specific repayment sources.

Convenience of one-time note execution and ability to access funds in person or by fax.
You control when advances are taken and when repayments/reductions are made to the line.
Faxing a request for Line of Credit advance is the quickest most convenient method of borrowing. Funds are immediately credited to your account. Loan reductions can be processed in the same manner.
Competitive loan preparation and servicing fees.
The interest rate is variable and is tied to the Prime Rate (as published in the Wall Street Journal).
Call for additional information
Annual clean-up (balance reduced to zero) is required

Business Express Line of Credit

A thirty-six month line of credit with the following tiered interest rate floors:

1) $25,000.00 and less: Rate of Prime + 4% with a 9.95% floor; whichever is higher

2) $25,000.01 to $50,000.00: Rate of Prime + 3% with an 8.95% floor; whichever is higher

3) $50,000.01 to $100,000.00: Rate of Prime + 2% with a 7.95% floor; whichever is higher

-Interest rate margin may be lowered .25% quarterly for every $25,000 in average demand balances kept on deposit (deposit offsets are limited by the respective floors).
-Repayment is monthly, based on 1/36^th of the principal amount outstanding plus interest.

Limited financial information required:

Minimum loan of $25,000; Maximum loan of $100,000
Completed and signed loan application with application fee of $100
Two years business income tax returns or financial statements
Two months bank statements from current checking account
Account required

Short Term Loan

This product is an interest-only loan. It is provided for a specific purpose and payable in full at maturity.

Match your short-term financing needs with your short-term cash flow and receivables situation.
Interest can be paid on a monthly, quarterly or at maturity basis.
Interest rates may be fixed or floating.

Installment Loan

Commercial Installment Loans are used to fund the purchase of a fixed asset such as machinery or equipment. Repayment terms are generally from one to five years and are normally tied to the expected useful life of the asset.

Adjusted and fixed rate loans are available to meet most borrowers' needs.
Term loan financing allows for repayment to be spread over a period of years (tied to the expected revenue to be generated by the asset).
A lien will be placed on equipment that is used as collateral.
There is no prepayment penalty.
Adjusted interest rates are tied to the Prime Rate (as published in the Wall Street Journal). The rate you pay is determined by the financial strength of your application. Generally, the interest rate can be set to float with Prime Rate or adjust as infrequently as annually.