Commercial Loans

Unsecured commercial loans are available to businesses and individuals usually with a predetermined specific source of repayment based on the occurrence of a future event; i.e., the sale of an asset or the collection of a specific contract or receivable.

Unsecured commercial lines of credit are available to businesses, usually to finance a temporary or seasonal fluctuation in the level of current assets;

i.e., work-in-process,contracts or accounts receivable or inventories. These lines are structured within pre approved commitments and usually do not exceed a term of one year. A normal requirement is for the line to be paid out in full for a minimum period of 30 days during any calendar year.

Of course, commercial loans and lines of credit are available on a secured basis. In general, the collateral value may be based on real estate, equipment, inventories or accounts receivable.

Usually repayable in monthly installments based on historical or projected business cash flows, business term loans are specialized to individual needs. These loans may also be unsecured or secured and are usually limited to a term ~ of 3 to 5 years.