Commercial Financing
Types of Commercial Loans
- Commercial Real Estate, Construction, and Renovations Loans
- Lines of Credit
- Permanent Loans
- SBA Loans
- Letters of Credit (100% cash secured
Commercial Real Estate Loan Terms:
- Competitive rates
- Up to 80% financing
- 25-year amortization
- •Existing business must show fixed debt coverage of 1.25 times or greater for previous fiscal year end and current interim period.
Basic Uses:
- Purchase of owner-occupied real estate
- Purchase of investment real estate
- New construction financing
- Renovation financing
Line of Credit (minimum $25,000)
- Competitive rates
- Up to 2- year maturities, interest only due monthly
Basic Uses:
- • Finance short-term working capital needs, payroll, and Inventory
- • Ability to manage fluctuations in cash flow by accessing cash when needed
Permanent Loan Term:
- Competitive rates
- Up to 5-year maturities
- Fixed principal and interest payments
Basic Uses:
- Purchase of fixed assets
- Refinancing or consolidation of business debt
SBA Loan Terms:
- Loans up to $5 million
- Up to 25-year maturities, fully amortized
- Variable and fixed rates
- Up to 90% financing
Basic Uses:
- Long and short-term working capital financing
- Purchase of equipment, machinery, furniture, fixtures, supplies, or materials
- Purchase of commercial real estate
- Construction of a new building or renovation of an existing building
- Establishing a new business or assisting in the acquisition, operation, or expansion of an existing business
- Partner buyouts
- Refinancing or consolidation of existing business debt
Visit us in one of our branches, via telephone at 443-923-0577, or by email at BusinessLoans@theharborbank.com to learn more.
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