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Commercial Lenders Lancaster, PA

Commercial Lenders Lancaster, PA
Commercial Lenders Lancaster, PA

Commercial lending opportunities are abundant in Lancaster, PA. If you’re looking to grow your business or launch a new venture, finding the right lender is essential. Commercial lenders like Customers Bank can be a vital resource in your journey to success and can help you secure the financing you need.

Customers Bank provides a range of financing options for small to medium companies. Our solid growth since 2009 has been built upon a strong reputation for flexibility, service, and relationships. The most popular of these loans among business owners include:

  1. Real estate loans: Commercial lenders provide financing for purchasing, constructing, or renovating commercial properties. Whether you’re looking to buy an office space, retail store, or industrial facility, a real estate loan can help you secure the funds you need.
  2. Equipment financing: If your business requires new machinery, vehicles, or equipment, commercial lenders offer equipment financing options. This type of loan allows you to spread the cost of purchasing equipment over time, making it more affordable and manageable.
  3. Business term loans: These loans can be an effective funding method for essential expenses like business technology, office renovations, or debt refinancing. Depending on the lender and your credit score, the loan amounts and repayment terms may vary from one to two years in short-term or six to 20 years in long-term loans.
  4. Business acquisition loans: Commercial lenders can provide the financing required when acquiring an existing business or buying out a partner. These loans enable entrepreneurs to seize growth opportunities or expand their business through strategic acquisitions.
  5. Business lines of credit: A line of credit operates similarly to a credit card, allowing you to draw on an approved amount – up to $100,000, depending on your creditworthiness – to cover costs such as cash flow, payroll, inventory, equipment repair, and more. As you pay down the loan, the credit renews, meaning the same funds can be used again without going through another loan application process.
  6. 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 comprehensive options include SBA 7(a), CDC/SBA 504, and USDA Business & Industry loans.

Common Misconceptions about Commercial Lending

Several misconceptions about commercial lending often hinder businesses from exploring financing options. Let’s debunk some of the common myths:

  1. Only large businesses qualify: While larger companies may have more financing options, many commercial lenders cater to small and medium-sized enterprises. When evaluating loan applications, lenders consider various factors, such as creditworthiness, cash flow, and collateral.
  2. The process is lengthy and complex: While commercial lending involves certain complexities, experienced lenders try to streamline the process and provide clear guidance. By preparing the necessary documents and working with a knowledgeable lender, the process can be efficient and straightforward.
  3. Interest rates are always high: Interest rates vary depending on factors such as the borrower’s creditworthiness, loan term, and collateral. By comparing rates from different lenders and presenting a strong loan application, businesses can secure competitive interest rates.
  4. Lenders only care about collateral: While collateral can provide additional security for the lender, it is not the sole factor considered. Lenders also assess the business’s financial health, creditworthiness, and future prospects when evaluating loan applications.

Key Takeaways

Securing commercial financing is crucial for businesses in Lancaster, PA, that are looking to grow and thrive. By partnering with a reputable commercial lender like Customers Bank, you will gain access to expert advice, personalized solutions, and competitive interest rates. We offer a range of loan products tailored to meet specific business needs, including real estate loans, equipment financing, and working capital loans. Call our experienced bankers at 833-595-0618 and let us know what you need.