Business Line of Credit
This convenient line of credit provides your business with availability of cash, as you need it. It simplifies the way you do business and provides solutions for special expenses.
- Low interest rates
- Secured and unsecured lines of credit offered
- Choose between interest only payments or principle and interest payments
- May be used as overdraft protection for Business Checking accounts
Business Term Loan
Term loans can provide your business with financing options when making major purchases, such as company vehicles, office equipment, supplies and more.
- Low interest rates
- One-year minimum term
Business Home Equity Line of Credit
A Business Home Equity Line of Credit (HELOC) offers flexibility and convenience by providing you with an option to use your personal property as collateral. This is especially helpful if you are just starting a business or making a major purchase.
- Low interest rate*
- Interest only payments, 1.5% payments or 2% payments
- Minimum credit limit of $5,000
- Loan amount determined by equity in real estate property
- Secured by principle residence of the business owner
- No closing costs
Commercial Real Estate Mortgage
A commercial real estate mortgage can simplify your business by providing you adequate commercial space or investment property.
- Low interest rate*
- Fixed or variable rates* available
- 80% loan-to-value
*Variable rate based on Prime rate as published in The Wall Street Journal on the last Wednesday of the previous month. The maximum that can apply is 18%.
| BUSINESS LINE OF CREDIT | |
| Minimums: | Credit Limit: $1,000.00 |
| Payment: Interest only or principle and interest payment of 2.5% of balance with a minimum of $50 | |
| Maximums: | Credit Limit: $100,000.00 |
| Term: One year or on demand | |
| Fees: | Annual Fee: 25 basis points |
| BUSINESS TERM LOANS | ||
| Minimums: | Term (years) | 1 year |
| Loan Amount | $10,000.00 | |
| Maximums: | Term (years) | 7 years or depreciable life |
| Loan Amount | $1,500,000.00 | |
| Fees: | Application Fee of $0 - $500 | |
| Commitment Fee up to 1% of the loan amount | ||
| Rate: | Fixed Rate | |
| Variable Rate | Prime to Prime + 5% | |
| Variable (Index) | Prime Rate, as published in the Wall Street Journal | |
| Spread | 0% to 5% | |
| BUSINESS HOME EQUITY LINE OF CREDIT (HELOC) | |
| Minimums: | Credit Limit: $5,000.00 |
| Payment: Interest only - each contract will vary | |
| Maximums: | Credit Limit: $100,000.00 |
| Term: 120 Months | |
| Fees: | No closing costs for balances of $5,000 dollars or greater |
| COMMERCIAL REAL ESTATE MORTGAGE | ||
| Minimums: | Loan Amount | $100,000.00 |
| Payment | Principle + interest | |
| Maximums: | Term (Years) | Up to 12 years with refinance allowed based on satisfactory underwriting |
| Loan Amount | $2,500,000.00 | |
| Maximum LTV | 80% | |
| Fees: | Commitment fee | 0% - 1% |
| Application fee | $0 - $500 | |
| Rate: | Fixed Rate | Three years minimum / Five years maximum |
| Variable Rate (Index) | Prime Rate | |
| Term: | Adjustment Term | Less than or equal to 5 years |
| Amortization Term | Up to 20 years | |
