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What Different Types of Commercial Loans Are Available?

The information provided below does not, and is not intended to, constitute legal advice. All information, content, and materials available on this page are for general informational purposes only.

 

At Customers Bank, we know that every client is unique, which is why we offer a range of flexible commercial loan products to meet a variety of needs. Someone from our team of professional lenders will sit down with you to discuss your business goals and determine the best way to finance them. Whether you’re looking to renovate an existing building, construct a new facility, refinance an old loan, or obtain working capital, Customers Bank has something for you.

Customers Bank Business Term Loans

For a straightforward loan that can supply funding to your small business, a business term loan from Customers Bank may be the right option. This type of loan is perfect for expanding your production or storage capabilities, instituting capital improvements, financing the purchase of much-needed equipment, and meeting a range of additional business needs.

A Customers Bank business term loan will provide a fixed amount with equal monthly payments at competitive interest rates. Clients who also have a business checking account with Customers Bank can also set up automatic payments on their business term loan for easy, convenient repayment.

Business Credit Lines Available from Customers Bank

If you’re looking for a more flexible financing option, consider a business line of credit from Customers Bank. Instead of forcing you to borrow a set amount up front that will need to be paid off, a business credit line allows you to only use what you need when you need it, and interest only accrues on the portion you’ve borrowed. This makes a line of credit an ideal option for supplementing your cash flow, financing accounts receivable, securing new inventory, or increasing the amount of working capital at your disposal.

Customers Bank business lines of credit are available at competitive rates, and the application process is free. Those with a business checking account can also enjoy automatic payments for added convenience.

Government Guaranteed Loans Available Through Customers Bank

Eligible businesses can enjoy a number of beneficial financing options by taking advantage of government guaranteed loans. As a Preferred Lender with the U.S. Small Business Administration (SBA), Customers Bank is proud to offer funding to small businesses through three government programs: SBA 7(a), SBA 504, and the Business & Industry loan program operated by the U.S. Department of Agriculture.

Because providing loans through these programs means less risk to Customers Bank, we are able to offer lower interest rates to many qualifying clients, and loans are available in amounts of up to $5 million. To be eligible for these loans, your business must meet the following requirements:

  • Your company must be properly registered and operate legally.
  • All appropriate tax documents must be filed with the government.
  • The owner(s) of the business must have invested their personal money or time in the company.
  • The company must be located in, and conduct business in, the U.S. or one of its territories.
  • Your business cannot be eligible for traditional lending options.

Though additional stipulations may apply for certain types of government loans, our government guaranteed lending specialists can work with you to determine which option best suits your business.

Various Commercial Lending Options Available from Customers Bank

Whatever your business or industry, the experienced lenders at Customers Bank can work alongside you to provide comprehensive financing solutions and banking services designed to advance your goals. To learn more, fill out our online form to connect with a Team Member and begin learning about the financing solutions available for your business.

 

All products and services are subject to approval.