Short Term Loans: Loans written for a term of one year or less with repayment is based on the sale of assets or seasonal cash flow.
Revolving Lines of Credit: A short term loan, usually paid back within one year. These loans are used as a source of working capital to support fluctuations in short-term assets, such as inventory and accounts receivable. Because it is revolving, the balance on the loan goes up and down as needed and interest is only charged on the outstanding balance.
Term Loans: Intermediate term loans most often used for fixed asset acquisitions such as equipment, vehicles and furnishings or permanent working capital for the business. Repayment terms are based on the expected useful life of the collateral supporting the loan, from one to seven years.
Commercial Mortgage Loans: Long term loans used for the purchase of or improvement to commercial real estate. Repayment terms are based on the expected useful life of the real estate collateral supporting the loan, up to twenty five years.
Construction Financing: Short term commercial real estate loans most often tied to permanent financing once the construction has been completed.
Letters of Credit: We offer both domestic and foreign letter of credit services.
Leasing: Leasing may be a better option than taking out a loan, with the cash flow benefits of 100% financing, the ability to manage obsolescence, improve the company balance sheet and take advantage of legal tax avoidance or deferral. We have the ability to do commercial leases through BB Community Leasing Service, Inc.
Business Credit Cards: Companies of every size seek out the convenience of corporate credit cards for their employees' company related travel, entertainment and other expenses. We have partnered with Elan Financial Services which has a family of Visa Business credit cards that offer the flexibility to seperate business from personal expenses rewards and access to free spending reports.
SBA and government financial programs: The Small Business Administration (SBA) and other governmental units offer guaranteed loan programs designed to help borrowers obtain credit for start-ups or businesses that exhibit higher risk characteristics. Based on meeting eligibility requirements, the borrower and bank work in conjunction to complete an application for submission for SBA approval. For more informtaion on eligibility and loan programs, access www.sba.gov or contact the SBA Answer Desk at 1-800-827-5722.
Local Business Development Loan Programs: Our bank is involved in promoting a number of local loan programs including the Marshfield Revolving Loan Fund Program, City of Marshfield Facade Loan Program and Main Street Marshfield Loan Program. For additional information please see one of our commercial loan officers or the Marshfield Area Chamber of Commerce and industry at www.marshfieldchamber.com.