Commercial lenders in Paterson, NJ

Are you a business owner looking to take your company in Paterson, NJ, to the next level? The ability to secure funding is an essential step in fueling growth, and commercial lenders like Customers Bank can be a vital resource in your journey to success.

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.

Our solid growth since 2009 has been built upon a strong reputation for flexibility, service, and relationships. We offer a variety of commercial loans that meet the needs of small and medium-sized businesses.

Unlocking the door to business success

As businesses grow, their needs become more diverse, so it’s logical that commercial loans are accessible for varied applications. A loan can be advantageous if your company is expanding, purchasing, or consolidating. To decide which kind of commercial loan you require, it’s helpful to consider why you need the funds.

Term loans: Customers Bank enables businesses to access term loans to cover larger purchases or investments. These loans are very flexible, with few restrictions regarding how the money can be used. Repayment is usually made over a set timeline ranging from one to ten years.

SBA government-guaranteed loans: Customers Bank is proud to be an SBA-preferred lender, providing financial assistance to small businesses through government-guaranteed SBA loans. These loans can be used for startup costs, working capital, expansions, and real estate purchases. Our options include SBA 7(A) and CDC/SBA 504.

Real estate loans: There are several different loan options to consider when it comes to real estate, including affordable SBA loans. The financing you need may vary based on whether you’re buying a building, a hotel, an apartment complex, or seeking to develop land. Before signing on the dotted line, be sure to understand the terms and conditions and the total cost of the loan.

Equipment loans: Customers Bank’s equipment loans generally have fixed interest rates and repayment periods from three to seven years. Depending on your creditworthiness, loan amounts can range from $25,000 to $5 million.

Business line of credit: Obtaining a credit line could be advantageous if your company only requires occasional financial help. Like a credit card, you can withdraw funds as you need them and only pay interest on the borrowed amount.

Bridge loan: This is a short-term loan taken out to cover a debt until a more permanent solution can be found. Businesses typically use bridge loans to finance the acquisition of a new property before selling their current property.

Why work with a commercial lender?

Commercial lenders like Customers Bank have extensive knowledge and experience in the lending industry. We can provide valuable insights and guidance during the loan application process, helping you navigate complex financial matters and make informed decisions.

Whether you’re looking to expand operations, invest in new technology, or hire additional staff, our commercial loans can provide financial resources to fuel your business’s development.

Takeaways

As commercial lenders, Customers Bank is committed to assisting Paterson, NJ, businesses in their efforts to scale up their operations. Contact us today. We will help you decide which type of commercial loan may be most appropriate for your business.