Business Loans

We believe the best way to serve you is to be familiar with you and your business by building a solid relationship. Many competitors rely on a credit scoring process that does not take into account your skills and hard work in building your business. Our approach to business lending is:

• On-site visits to your business
• Gathering your financial information
• Analyzing your information
• Structuring the loan to fit your needs
• Making timely decisions
• Local decisions

Check out the expertise and professional service at Community State Bank where we offer the following types of loans for your business needs:

LINES OF CREDIT: Revolving loans to handle seasonal changes in inventory and accounts receivable. These are typically repaid during the business cycle from reduction of inventory or collection of accounts receivable.

Line of credit terms:

• Secured by all business assets
• Multiple advances & repayments
• Repayment set to business cash flow
• Monthly interest payment
• One year in maturity
• Amount of loan determined by monthly level of inventory and receivables

TERM LOANS: Term loans are for long-term capital purchases such as vehicles, machinery, equipment, real estate, or to finance ownership changes or acquisition of a new business.

Term loans are usually structured as follows:

Equipment and Fixed Asset Term Loans:

• Amortization of 3 to 7 years depending on type
• Usually require a monthly payment
• Secured by business assets

Real Estate Term Loans:

• Amortization from 10-20 years
• Fixed rate 3 or 5 year options
• Secured by real estate

CONSTRUCTION LOANS: Construction loans allow for payment of expenses during the construction phase or extended equipment purchases before amortization begins.

• Interest only during construction period
• Principal and interest payments begin 6 to 12 months after start of the project

GOVERNMENT GUARANTEED LOAN PROGRAMS: Community Bank utilizes both Small Business Administration and USDA Rural Development Guaranteed Loans. You will need to request an SBA or USDA application as these agencies set individual terms and conditions on each individual application.