Beacon Bank makes a wide array of commercial/business loans. The most common loan types:
Commercial Term Loans
These loans are ideally suited to provide your company with the ability to finance long-term assets such as equipment and buildings. Payments are determined by the useful life of the assets financed. Fixed and variable rates are available.
Working Capital Lines
Working Capital Lines provide your business with a valuable source of funds to manage the day-to-day cash needs of a business. Interest expense is kept at a minimum because you borrow only what you need for as long as it is needed.
Letters of Credit
A Letter of Credit provides the bank's guarantee of payment, a valuable tool as a business seeks to expand relationships with other creditors.
Single Pay Note
Short term borrowing needs may be met with a single payment note. Fixed or variable rates available.
Business Overdraft Protection
Overdraft Protection is an unsecured line of credit tied directly to your business checking account. This line of credit provides your business with easy access to additional funds for short term needs or added protection from unwelcome overdraft fees.
- Lines available to $5000
- Advances in increments of $500 to cover shortages in your checking account
- Competitive fixed rate charged on outstanding balances
- Monthly interest-only payment is deducted directly from your checking account
For more information, contact a Business Banker near you.