Commercial Loans
If you are looking to
start up a business, expand a business, or have
operating needs in your business, we can help.
We will help you set up the right financing
structure to support your cash flow and
accomplish your growth objectives.
We can provide financing for:
- Business Acquisition/Expansion
- Working Capital needs
- Operating and seasonal lines of credit
- Equipment purchases
- Real Estate purchases
There are many programs available through the
government that can help small businesses obtain
financing. We work with the Small Business
Administration (SBA) to help our customers gain
access to these programs. These programs
include:
- SBA 7(a) Loan: SBA's primary loan
program generally used for business
start-ups and to meet the short- and
long-term needs of existing small
businesses. Under this program the SBA
guarantees loans to small businesses that
cannot obtain financing on reasonable terms
elsewhere.
- SBA Low Documentation Loan (SBA Low
Doc): SBA Low Doc was designed for small
business loans of $150,000 or less. It
features a one-page application, which cuts
the paperwork burden. After the application
has satisfied the lender's requirements, a
one-page SBA guaranty application is
completed. If approved, a quick closing can
take place.
- 504 Loan: The 504 Program provides
long-term, fixed-asset financing through
certified development companies. With this
program, the bank loans 50% of the project
cost with an SBA guaranty, the development
company loans 40%, and the borrower injects
10%. The maximum SBA debenture generally is
$750,000.
The state of Iowa also has some loan and
grant programs which help some individuals start
up new businesses. We can help you with these
programs as well.
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