Business loans
Four ways to borrow, from $10,000 to $5 million. Not sure which fits? Apply anyway: your loan officer will tell you, and it costs nothing to ask.
- Term loans
For a second location, a build-out or a partner buyout.
- Amounts
- $25,000 to $2 million
- Term
- 1 to 10 years
- Repayment
- Fixed monthly payments
- Secured by
- Business assets, sometimes a personal guarantee
- Lines of credit
Working capital for slow months and late invoices.
- Amounts
- $10,000 to $500,000
- Term
- Renews every 12 months
- Repayment
- Interest on what you draw
- Secured by
- Receivables and inventory
- Equipment and fleet finance
Ovens, dental chairs, tractors: anything with a serial number.
- Amounts
- $10,000 to $5 million
- Term
- 2 to 7 years, matched to the equipment
- Repayment
- Fixed monthly payments
- Secured by
- The equipment itself
- Commercial real estate
Buy the building you work in, or build out the one you lease.
- Amounts
- $250,000 to $5 million
- Term
- Up to 25 years
- Repayment
- Fixed or adjustable rate
- Secured by
- The property
| Loan | Amounts | Term | Repayment | Secured by |
|---|---|---|---|---|
| Term loansFor a second location, a build-out or a partner buyout. | $25,000 to $2 million | 1 to 10 years | Fixed monthly payments | Business assets, sometimes a personal guarantee |
| Lines of creditWorking capital for slow months and late invoices. | $10,000 to $500,000 | Renews every 12 months | Interest on what you draw | Receivables and inventory |
| Equipment and fleet financeOvens, dental chairs, tractors: anything with a serial number. | $10,000 to $5 million | 2 to 7 years, matched to the equipment | Fixed monthly payments | The equipment itself |
| Commercial real estateBuy the building you work in, or build out the one you lease. | $250,000 to $5 million | Up to 25 years | Fixed or adjustable rate | The property |
What you'll need
You don't need any of these to apply. Your loan officer asks for them after reading your application.
- Business tax returns for the last two years
- This year's profit and loss statement and balance sheet
- Three months of business bank statements
- A list of the business's current debts
- For equipment: the vendor's quote or invoice
Who decides
A person makes every decision, up to a written limit. Above it, the loan goes to the next person up.
- Loan officer
- Up to $50,000
- Your officer decides, usually the same week.
- VP Credit
- Up to $250,000
- Your officer refers it with their recommendation.
- Chief credit officer
- Up to $5 million
- For the largest loans on our book.
Questions we hear
How long does a decision take?
Most decisions come within five business days of a complete application. Larger loans take longer, because a second person reviews them.
What credit score do you look for?
There isn't a cutoff. Your officer reads the whole file: cash flow, how long you've been in business, what the loan is for and what secures it.
Do you lend to new businesses?
Equipment finance works from day one, because the equipment secures it. For term loans and lines of credit we look for two years of statements.