BUSINESS LOANS
Whatever your path, we’ll help you get there.
New requirement for Mobile Deposit users effective 4/1/21. Click here to learn more.
Currently accepting PPP Loan applications
Commercial Real Estate Loans
Experience a commercial real estate loan tailored to businesses like yours.
Take advantage of a unique commercial real estate loan product structured with input from businesses like yours. Whether you’re in need of a new loan or looking to refinance a loan, at Lake Area Bank, you’ll enjoy…
- Fixed Rates up to 15 Years
- Amortizations up to 25 Years*
- Competitive Rates
We offer business solutions customized to you!
- Business loans to finance long-term investment real estate
- Interest-only terms for new construction or renovation projects
- Flexible terms and creative options based on each unique need
- Borrowing in an LLC, corporation or individual owner names
*Amortize up to 25 years on a 10-year fixed loan. Amortize up to 20 years on a 15-year fixed loan.
Equipment Financing
Get the latest technology and take advantage of unique equipment financing options structured with input from companies like yours. Featuring…
- 100% Financing*
- Fixed Rates Up to 7 Years
Reasons to Finance Equipment for your Business:
- Save your cash for other areas of your business such as R & D, expansion or improvements.
- Improve productivity and efficiencies by replacing outdated & maintenance-heavy equipment.
- Potential tax benefits.** A loan may provide for a 100% write off of the equipment in the year purchased.
- Accelerate your Return on Income with smaller payments versus one lump sum while your equipment generates revenue.
*Financing up to 100% of purchase price or value. Subject to underwriting and verification.
**Lake Area Bank is not a tax consultant. Please refer to IRS section 179 for qualifications or consult your tax advisor.
Construction to Permanent Loans
Construction loans can be used to purchase, construct and hold a residential or commercial property for business purposes. These loans are commonly used to build new facilities or purchase and remodel existing facilities for business use. During the construction and stabilization period, borrowers pay interest only, then switch to principal & interest payment. Loans can also be used for multifamily and non-owner occupied buildings.
Operating Lines of Credit
Operating lines of credit are popular solutions to help fund the working capital needs of your business. These loans have a revolving line of credit to assist with cash flow and allows clients online access to funds – when they need it and what they need it for. Lines of credit also offer the flexibility to pay down on the loan or make interest-only payments as desired. Take advantage of the flexibility and power an operating line of credit can provide.
SBA Loans
SBA Loans are guaranteed by the U.S. Small Business Administration. These loan products can offer more flexibility than traditional bank loans. Qualified SBA loan applicants may take advantage of low rates and longer terms available relative to conventional business loan products. As an approved SBA lender, Lake Area Bank offers both SBA 7(a) and 504 loans. We work with our clients to explore loan options and help determine the best solution for your business needs.
