South Side Bank offers a diverse selection of loans to give your business the momentum it needs to grow and thrive. Contact us to discuss which options may best serve you and your current needs:
Lines of Credit
With a line of credit, you'll have access to cash that you can use for most short term business needs, from new office supplies to marketing services, and more. Based on your qualifications, we'll approve you for a pre-determined amount, then give you access to funds whenever you need them without having to be re-approved each time.
A line of credit makes day-to-day business life easier. You'll only pay interest on the amount of available funds that you actually use. Plus, you'll enjoy payment flexibility, with the option to pay as little as interest-only, or to pay the entire balance all at once.
Term loans are made for a specified dollar amount, with a pre-determined repayment schedule. With a term loan, you can enjoy greater peace of mind, knowing you'll have predictable payments and consistent rates throughout the loan period. This is an excellent option when financing equipment or investing in other long-term capital purchases, as well as for business acquisitions.
You may wish to consider a government-supported loan program such as the Small Business Administration (SBA) if you find that your business does not meet certain qualifications for a standard conventional loan. These programs often provide greater flexibility in loan amounts and repayment options, as well as in the types of purchases that can be made with the funds giving you more opportunities to get precisely the loan you need.
Commercial Real Estate Loans
South Side Bank's commercial real estate loans give you the opportunity to grow your business. A mortgage loan on commercial property can help you:
- Expand your existing facility, or purchase a new one
- Invest in real estate development and income producing real estate
With competitive interest rates and flexible terms a commercial real estate loan can keep your business on track for the future. We'll be happy to consult with you to discuss the available options.
Letters of Credit
Sometimes vendors require a guarantee of payment to give them peace of mind in moving forward with providing services for your business. In these cases, a letter of credit issued to your business by the bank can help and often costs less than a performance bond.
Please call our Commercial Loan Department at (309) 676-0521, or contact Bill Koenig or Marilyn Strickfaden for more information.