Delivering tailored debt and deposit solutions to venture and PE-backed startups to fuel innovation and growth.
Commercial lenders in Charlotte, NC
Commercial lenders like Customers Bank would like to be your financial partner to help your Charlotte, NC, business stay ahead of the curve. We are proud to be a powerful resource for commercial financing options.
With assets exceeding $22 billion, we are one of the 100 largest bank holding firms in the US. Our expert team can assist you with finding the right loan.
Types of commercial lenders
Commercial lenders come in different forms, each with its own advantages and industry experience. Understanding the different types of commercial lenders will help you determine the best fit for your business.
- Traditional banks: Banks like Customers Bank are a common commercial lending source. We offer various loan options, including term loans, lines of credit, equipment loans, and commercial mortgages. However, we have lending criteria to adhere to that may require additional documentation.
- Credit unions: Credit unions are member-owned financial cooperatives that offer commercial loans to their members. They may have lower interest rates and more flexible lending terms than traditional banks. However, there may be membership requirements that limit accessibility for some businesses.
- Online lenders: Online lenders have gained popularity recently due to their convenience and accessibility. These lenders operate exclusively online, allowing for faster application processes and quicker funding. Online lenders often cater to small businesses and startups that may not meet the requirements of traditional lenders.
- Peer-to-peer lenders: Peer-to-peer (P2P) lending platforms connect borrowers directly with individual investors. They provide an alternative to traditional banking, offering competitive rates and flexible terms. P2P lending can be a viable option for businesses that may not qualify for conventional loans.
It’s important to evaluate the pros and cons of each type of commercial lender to determine which one aligns best with your business’s needs and goals. Now that you have an overview of the different types of commercial lenders, let’s explore how these loans can be used.
What can commercial loans be used for?
You can use commercial loans for many different purposes, including:
- Working capital
- Short-term business growth
- Purchase inventory
- Marketing campaigns
- New locations
- New or used equipment
- Real estate
- Other business needs
Benefits of commercial loans
For both new and existing business owners, there are many benefits to getting a commercial loan. Commercial loans often offer:
- Quick turnaround time for approval
- Lower interest rates than other forms of borrowing like credit cards and personal loans
- Longer repayment terms, giving businesses more time to repay the loan without straining their cash flow
- Help build creditworthiness, increasing the chances of obtaining future financing at favorable terms
- Few, if any, restrictions on how the funds can be used
These advantages make commercial loans attractive for businesses looking to succeed in today’s competitive market.
Advance your business opportunities with the right lender
If you have a mid- to large-sized business in Charlotte, NC, we encourage you to explore the range of lending services we offer here at Customers Bank. As commercial lenders, we can help you navigate your industry’s challenges. If you need assistance with cash flow or help during an acquisition, we have a commercial loan option to give your organization the advantage.