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All businesses need capital to thrive. Taking advantage of Blackhawk Bank’s commercial loan services in Janesville, Wisconsin, can benefit your company in countless ways:
- State-of-the-art technology
- High-quality equipment
- E-commerce and website development
- Marketing possibilities
- Wholesale inventory prices
- Office expansion and real estate opportunities
There are many commercial loan types available, each with specific advantages. Here are the most important loan categories for business owners to know about:
Commercial Loans
- Access to significant capital and excellent loan terms
The quintessential business financing option, commercial loans offer a good balance of low-interest rates and comfortable repayment terms. They provide capital for business needs ranging from large inventory purchases to vehicle financing.
Development Loans
- Long repayment terms with non-ballooning, fixed interest rates
Whether you’re looking to build a new office or warehouse from the ground up, purchase an existing property, remodel your current location, or expand, an acquisition and development loan is the answer. Development loans give you some of the best interest rates possible and terms that commonly range from 10 to 30 years.
Equipment Loans
- Equipment upgrade options and manageable monthly payments
Leases and financing for business equipment can make a huge difference for your company. In addition to letting you secure high-quality equipment that builds a solid reputation, they let you stay on the cutting-edge and ahead of competitors. Depending on the industry, equipment loans can help you obtain everything from heavy machinery and restaurant appliances to computer systems and POS terminals.
SBA Loans
- Best possible interest rates and terms
Loans backed by the Small Business Administration offer optimal interest rates, sizable loan amounts, and incredible repayment terms. This capital lets you expand in any way needed. With government-funded loans, having a perfect credit history is less important than for traditional term loans.
Business Lines of Credit and Credit Cards
- Revolving credit with no need for continual approval
While business lines of credit and commercial credit cards differ slightly in ease of use and rates, they function similarly in principle. Both give you access to instant capital that can be used however you feel necessary:
- Emergency payments
- Inventory purchases
- Payroll
- Taxes
- Other business needs
Once approved for business credit, you can use the funds whenever needed and up to your approved limit. Your company only pays interest on capital when you use it, and you never have to explain the reason for purchases. This gives you great freedom to run your business your way.
Receivables Financing
- Great solution for companies with credit issues
If your awesome startup doesn’t yet have a proven credit history, or unexpected market changes have left your company with less-than-optimal credit, we can still help you with essential loan options. Receivables financing allows you to use unpaid invoices as equity for a merchant cash advance, giving you most of the invoice’s value upfront to use as needed.
Obtain Help from Experts in the Business
No matter what plans you have for your company, you don’t have to select the best financing option alone. At Blackhawk Bank in Janesville, Wisconsin, we work hard to create a personal relationship with business owners. By taking the time to understand your company’s identity and goals, we can provide smart loan recommendations for success.
Are you thinking of refinancing a current loan? Our friendly Business Bankers can answer your questions and let you know when interest rates make it favorable to refinance for lower monthly payments that free up capital. Your success is our success, so we’re happy to go the extra mile to help. For more information about commercial loan services or refinancing, contact us today.
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