Business Loans
| Type of Loan | Loan Purpose | Term | Payment |
|---|---|---|---|
Type of Loan Real Estate Loan | Loan Purpose Purchase, Refinance, Expand, Remodel or Rehabilitate | Term Amortizations up to 25 years, maturities up to 15 years | Payment Principal and interest payments usually monthly, balloon payment options available |
Type of Loan Land Loan | Loan Purpose Purchase or Refinance | Term Up to 10 years | Payment Principal and interest payments usually monthly, balloon payment options available |
Type of Loan Term Loan | Loan Purpose Long term financing needs such as equipment purchases, capital needs or other long term financing needs | Term Up to 10 years | Payment Principal and interest payments usually monthly, balloon payment options available |
Type of Loan Line of Credit | Loan Purpose Short term financing needs, generally working capital and/or receivables and inventory financing | Term Varies, generally renewable annually | Payment Interest only monthly |
Type of Loan Letters of Credit | Loan Purpose Bank guarantee of payment based on certain conditions | Term Varies, generally renewable annually | Payment No repayment until and unless letter is presented for payment. Commitment and annual fees apply |
Type of Loan Customized Loans | Loan Purpose Other short term and long term needs can be accommodated | Term Terms up to and including 25 years are available and based on many factors such as loan purpose, cash flow and collateral | Payment Payment types range from monthly, quarterly, semi-annual and annual payments and may be interest only payments, principal and interest payments and balloon payments |