Business Loans
Our business is to serve yours.
From small purchases to large, we can build a loan program to fit your needs. We’ll make
sure we give you our best possible rate and we’ll reduce your paperwork and hassles to a bare
minimum.
Lines of Credit, secured and unsecured
A line of credit will allow you to borrow only as much as you need, precisely when you need it. You may borrow a set amount and pay it down repeatedly, balancing your cash flow needs with this ready source of short-term funds. A line of credit is most often secured by real estate, a deposit account or a major asset and renews annually. A line of credit is simple and easy to use, and is an excellent financial tool to:
- Cover short-term cash needs until accounts receivable can be collected
- Take advantage of supplier discounts
- Cover seasonal working capital needs
Term and Equipment Loans
Term loans help a business purchase items that pay for themselves. The source of repayment is often generated by the increased cash flow from these assets. They are commonly used for:
- Purchases of machinery, equipment, furniture, fixtures, and to make leasehold improvements
- Additions to long-term working capital
- Expansion or modernization of facilities
- Vehicles or other business transportation
The loan period is determined by the productive life of the assets. For example, loans used to buy computers and office equipment will be shorter in duration than those used to purchase manufacturing equipment.
Commercial Real Estate Loans
We offer very competitive financing for commercial real estate, including the purchase of existing buildings or refinancing current loans. These loans use the property as the required collateral, and often are used for:
- Commercial properties, both owner- and non-owner occupied
- Rental housing
- Apartment complexes
- Combination business/residential properties
- Construction and land development
We recognize that your real estate transaction is unique, so Northwest Community offers an innovative and flexible program to fit your needs. Commercial real estate loans are amortized over a set period of time, up to 25 years, with payments and interest rates fixed for a three to five year term.
Business Credit Cards
Northwest Community Business Credit Cards provide a flexible way to streamline
purchases and control your expenses. Northwest Community Business Credit Cards allow you
to:
- Have a separate credit card account for business expenses
- Issue cards to employees for purchases, travel, et cetera
- Set separate spending limits for each employee by opening their own business credit
card account for them.
Our cards have no annual fees, rate changes or
fees for cash advances—this makes it a great tool if you want to buy an office desk
or other equipment from a cash-only vendor.
Visit your local branch to apply for one of
our business loan options or request more information about available services.
We’re a Small
Business Administration approved lender.