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Business Lending Expertise

What are your application requirements?

Existing businesses should provide three years of accountant prepared financial statements (balance sheets and income statements) and/or business tax returns and a personal net worth statement and past three years personal tax returns.

Start-up businesses should present their business plan in writing including financial projections for three years (balance sheet and income statements) as well as documentation for personal net worth and personal tax returns for at least two years. Our lenders are happy to work with aspiring business owners to talk through their start-up business plans!

What does the commercial loan process look like?

Step 1: Consultation and introduction meeting with a business banker at your business. Our bankers would love to visit your business to learn about your operation and discover how we can partner together. We listen to what your needs are and have an open conversation about what your business goals are. Information collected during this initial meeting is used for unique commercial loan structuring.

Step 2: Application and credit discovery. Information is collected to review the current financial position of the business and the borrower. (See “What are your application requirements above?”)

Our team of credit professionals reviews and confirms all the financial information collected and provides recommendations. Depending on the size of the loan and terms discussed, credit offers to qualified applicants may be made over the course of two days to two weeks. 

Step 3: Closing and ongoing partnership. A closing date is set, and papers are signed. A business banker confirms the loan terms and the funding. After closing, your business banker schedules regular meetings for ongoing consultation and review of business financials (balance sheet and income statements) to provide recommendations and be your trusted advisor.  

What are your loan terms and rates?

Every commercial loan is different.  The bank offers floating and fixed rates based on a number of factors that are unique to each loan.

Common terms include:

A Commercial Line of Credit for working capital offers customers interest only payments which can help bridge gap in the Accounts Receivable process. For example, you make cabinets and install them, then bill your customer for the goods and services. Until your customer pays you, you can use your line of credit to buy supplies to build the cabinets. When you are paid, you pay off your commercial line of credit. Commercial lines of credit can be renewed annually.

Basic commercial loans for equipment are amortized over five to seven years.  

Commercial Real Estate is amortized over 15-20 years.

For your convenience, we offer personal financial statement templates in both Excel® and PDF formats. If your business is looking for an opportunity to build a long-term relationship with a bank large enough to meet its needs, then we encourage you to give us a call. Our lenders will learn what's important to the success of your business and will explain the National Exchange Bank & Trust difference. Your business is our top priority.

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