Business Credit Products
When Advantage Bank gets involved in your financing needs, you can be assured we have What you need. When you need it. For your small or large construction projects, to providing cash flow solutions, to financing your equipment purchases and funding Accounts Receivable, we are here to make sure you’re successful in all your business ventures.
Short Term Business Loans – for temporary cash supply to meet a current obligation or to capitalize on an immediate opportunity
- Terms 3 to 6 months
- Fixed and variable interest rates available
- Secured or Unsecured
- Interest due monthly; principal due at end of term
Long-Term Business Loans – most often used to acquire fixed assets such as equipment for operating a business, partial financing to purchase a business or even to increase permanent working capital
- Loan amounts vary
- Fixed rate loan terms up to two years, or variable rate loans
- Terms generally 3-5 years for equipment, 10-20 years for real estate
- Principal and interest payments due monthly
Business Access Line of Credit - a line of credit accessed by check for convenient use of funds as needed
- Secured lines up to $25,000
- Unsecured lines up to $10,000
Business Credit Cards
Business credit cards with choices, like points rewards redeemable for gift certificates, merchandise, airline miles or cash. Cards are available for management and/or designated employees. Select from central or individual billing. Visa Information Source offers online reporting tools to manage the business credit card spending. Select the card that's right for you and apply today!
Construction and Interim Loans - to fund the building phase with advanaces during the process
- Individualized payment plans tailored to specific business
- Retail stores, apartments, offices and light industrial, churches and temples, and non-conforming properties
Standby Letters of Credit - to obtain inventory or merchandise without paying cash
- Term is usually one year or less with fees from 1.5 to 3 points
- Fees based on volume and other considerations
Business and Commercial Lines of Credit – short term cash flow needs for seasonal purchases on inventory or prepayment of bills to take advantage of volume discounts
- Re-usable and easily accessible
- $10,000 up to $1,000,000
- Secured and unsecured lines available
- Terms typically 12 months or less
- Interest only payments
- Principal due on demand or at maturity
Term Loans – finance an acquisition, machinery, equipment or business purpose vehicles
- Terms usually 12-60 months
- Fully amortized in equal monthly principal plus interest payments
Medical Loans – short and long term loans for medical professionals, health care providers, and medical related businesses
- Interest only loans available for 12 month term
- Principal and interest payments available from 3-7 years
Single Pay Loans – designed for purchasing fixed asset or to provide short-term working capital
- Principal balance and accrued interest are due in full at maturity
- Single pay notes with terms from 3-6 months
- May be converted to longer terms of 12-60 months
Agricultural Loans – when you need financing for major equipment expenses, livestock or crop production, we offer two financing solutions with repayment schedules designed specifically to match your cash flow.
| Product Features | Advantage Bank Agriculture Line | Advantage Bank Agriculture Loan |
|---|---|---|
| Loan Size | $10,000 to $500,000 | $10,000 to $500,000 |
| Purpose | Short-term cash needs for the production of crops and livestock | Long-term investments in equipment or livestock |
| Collateral | Secured by specific assets or a blanket lien on all farm assets | Secured by specific assets or a blanket lien on all farm assets, purchase money lien, livestock or Conservation Reserve Program payments |
| Payment Terms | Interest-only payable monthly, quarterly, semi-annually or annually | Flexible principal and interest repayment structure: monthly, quarterly, semi-annually or annually |
| Maturity | Annual maturity | 12 - 84 months |
| Overdraft Protection | Yes | N/A |
Commercial Real Estate Loans up to $250,000 – long term commercial real estate owner occupied and investment loans
- 2/1, 3/1 5/1 adjustable rate mortgages
- Other terms may be considered
- Maturities up to 25 years with 5-10 year balloon
- Escrow taxes and insurance
- Generally primary lien is required but second lien positions may be considered
- 1-4 family, multi-family, retail or office occupancies
Commercial Real Estate over $250,000
- Construction and mini-permanent financing is available for office building, apartment complexes, assisted living communities, warehouse/distribution facilities, manufacturing plants, single-family subdivisions and more.
- Loan structure and repayment terms can be customized to meet the borrower’s needs
Small Business Administration (SBA) Loans - government guaranteed loans to help fund purchase of real estate and equipment for start-up businesses or businesses poised for growth
- Government Guaranteed 7A Loans - for expanding businesses
- SBA 7A Express (Loans or Lines) – amounts up t o $350,000
- SBA 504 Development Loans – for long-term real estate purchases, leasehold improvements or equipment financing. May require smaller down payment than typical real estate loans
- SBA Community Express – for small businesses in disadvantaged communities, women-owned businesses, minorities, and veterans
- SBA Real Estate and Non-Real Estate Loans
* Subject to approval. Fees may apply to some of these services.
