Commercial loans are those loans which are needed to fund new or existing legitimate businesses operations.
Businesses may be organized as a sole-proprietorships, partnerships, corporations (both “S” and “C” corps), limited liability companies (LLC) or non-profits. Some examples of commercial loan needs are:
- Start-up capital.
- Cyclical operating capital.
- Equipment/inventory/raw materials purchases.
- Land acquisition.
- Building construction/renovation.
Because each commercial loan client and request is unique, loan rates and terms offered will vary depending on a number of underwriting criteria, including (but not limited to) the type of loan request, collateral to be offered and credit worthiness of the customer. Similarly, fees on commercial loans are determined by type of loan requested and are quoted to the customer upon formal loan approval.
As a service to business clients and agricultural operations, we can also work with the federal government’s Small Business Administration (SBA) and Farm Services Agency (FSA) to seek funding via various federally guaranteed loan programs available at time of application.
*Note: Please take advantage of our easy to use financial
calculators for your payment & amortization calculations.
As a general rule, the following information is necessary in order to give each commercial loan request the consideration it deserves:
- Three years of business financial statements and tax returns.
- Three years of personal tax returns (from the business owner and any/all guarantors).
- Current personal financial statement (from the business owner and any/all guarantors).
- Description of loan requested (amount requested, purpose of loan, and terms desired).
- Signed credit authorization form (see forms listed below).
Please contact any one of our commercial lending professionals should you have questions or need assistance with a specific commercial financing need:
Stephanie L. Hunter
Peggy Anderson
PH#: (231) 744-9534 [Stephanie]
PH#: (231) 744-6231 [Peggy]
John Carlson
PH#: (231) 873-1399
jcarlson@shelbybank.com
Pete Slovinski
PH#: (231) 854-6455
pslovinski@shelbybank.com
Terri Lambrix
PH#: (231) 869-2647
tlambrix@shelbybank.com
Kimm Griffin
PH#: (231) 894-9041
kgriffin@shelbybank.com
Important Information About Insurance Products Offered in Connection with Extensions of Credit:
1) We may not condition the extension of credit on your purchase of an insurance product or annuity from us or any of our affiliates.
2) We may not condition the extension of credit on your agreement not to obtain an insurance product or annuity from an unaffiliated entity, nor may we prohibit you from obtaining the insurance product or annuity from an unaffiliated entity as a condition of the extension of credit.
3) Credit insurance products are not a deposit or other obligation of, nor guaranteed by us or any of our affiliates.
4) Credit insurance products are not insured by the Federal Deposit Insurance Corporation (FDIC) or any other agency of the United States Government.
Rev. 09/25/09