Need A No-Sweat Business Loan?
We've Got You Covered.
Businesses come in all shapes and sizes, each with their own unique
financial needs. That's why we offer a wide variety
of flexible lending packages to meet any need.
Whether
you need short-term cash flow, new equipment or capital for expansion,
we can quickly create a custom loan package that's right for you.
Straight answers and personal service to make all of your business dreams come true.
Let us provide you with a revolving line of credit so you can quickly
access funds for working capital. This line of credit
helps you bridge the gap between payments for materials and labor
and subsequent cash collection from sales. Interest is paid monthly
on the daily outstanding balance of the loan.
Line of credit to finance receivables.
Provides working capital for your business.
Interest paid monthly on daily outstanding balance.
Supplement your business' working capital with one of our working capital lines of credit--
call 1-847-888-7950 and speak to one of our lending experts.
When your business needs to extend internationally, a Commercial
Letter of Credit from Elgin State Bank can serve as a safe,
negotiable instrument of payment for purchasing items
outside the United States. Because many overseas vendors do not
offer terms to their U.S. customers, a Commercial Letter of Credit
offers greater protection to purchasers of overseas products than
prepaying with cash.
Credit guaranteed by Elgin State Bank.
International payment instrument.
Purchase protection on overseas products.
Apply for your Commercial Letter of Credit and protect your overseas purchases--just give us a call at 1-847-888-7950 and speak with one of our expert business bankers.
Save valuable time and money with Standby and Performance Letters
of Credit from Elgin State Bank. This extension of credit can help
your business secure payments to third parties, and contractors
can use it to guarantee project completion. It's also
faster and more economical to pay a fee for these Letters of Credit
than it is to actually borrow money in order to place a cash deposit.
Time-saving and economical alternative to cash deposits.
Secure payments to third parties.
Use as project completion guarantee.
Obtain your Letters of Credit today by calling 1-847-888-7950
and speaking with one
of our business banking professionals.
This is a term loan with monthly payments of principal and interest.
Equipment Acquisition loans can be used to finance
purchases of new or used long-term assets such as machinery,
computers, trucks, corporate automobiles, equipment and leasehold
improvements. The repayment schedule of these loans ranges from
three to 7
seven
years.
Term loan with monthly payments.
Use to finance long-term assets.
Repayment schedules of 3 to 7 years.
Don't wait another day to apply for your Equipment Acquisition loan--just give us a
call at 1-847-888-7950 and speak with one of our friendly business bankers.
A Business Acquisition loan from Elgin State Bank is ideal for financing
the purchase of assets from existing businesses, or for financing
a partner buy-in/buy-out. These business loans can be
creatively structured to match your future cash flows and the
expected useful life of underlying collateral assets.
Purchase assets of existing business.
Finance partner buy-in/buy-out.
Flexible loan structures.
Apply for your Business Acquisition loan today by
calling 1-847-888-7950 and speaking with one of our friendly business banking
professionals.
These short-term loans were specifically created to help businesses
meet the costs of constructing new manufacturing facilities,
warehouses, office buildings and investment properties. Usually with a term of one year or
less, the loan is funded in increments as construction process
proceeds. Interest is payable monthly during the construction
period. A typical source of repayment for the construction is a
permanent end mortgage.
Typical term of loan is 1-2 years depending on the nature of the project.
Funded incrementally as construction progresses.
End loan financing is also available.
Interest is payable monthly during construction.
Call 1-847-888-7950 today to speak with one of our friendly business
banking professionals about a construction loan for your business.
Created to meet the specific financial needs associated with land
development, our Land Development Loans help you acquire improved
or unimproved land, which you can then sell as individual
lots or use to construct residential or commercial buildings.
Acquire improved/unimproved land.
Owner can either sell land later or build on it.
Commercial or residential construction permitted.
Call 1-847-888-7950 today to speak with one of
our business banking experts about a Land Development loan.
We are eager to work with businesses seeking a mortgage for the acquisition
and renovation of commercial real estate (such as manufacturing
plants, warehouses, office buildings and investment properties). Commercial Mortgages
may also be used to refinance a construction loan. This type
of loan requires monthly payments of both principal and interest.
Repayments based on an amortization of 15 to 25 years.
Options are available for as little as 10% equity requirement for owner occupied real estate.
Refinance existing construction loan.
Monthly payments of principal and interest.
Repayments amortized from 15 to 25 years.
Put a Commercial Mortgage to work for your business today with
a call to one of our expert business bankers at 1-847-888-7950.
We work closely with the small business administration
to provide businesses with credit enhancements that benefit
both the borrower and the bank. Examples include 10% down payment
commercial mortgage financing and "low doc" lines of credit.
10% down payment commercial mortgages.
"Low doc" credit lines.
Call 1-847-888-7950 today and speak with one
of our expert business bankers to learn which state and federal lending programs you may
qualify for.
Elgin State Bank | 1001 S. Randall
Road | Elgin, IL 60123 USA | Phone: 1-847-888-7950
