Blackhawk Bank offers a wide array of small business loans to suit our clients’ specific requirements. We provide competitive interest rates, simple terms, and friendly issuance processes so you can make confident choices.
No matter how much you need or how you plan to use it, our team of dedicated bankers will guide you through your loan and credit options and help you develop a financing plan that serves your interests. Our loans can help you grow your business in Wisconsin and Illinois – and your bottom line – with no surprises.
Meet your business goals with the help of commercial loans
Our flexible business loans allow you to expand and adapt to your company’s changing needs without worrying about complex regulations or overhead. Once you qualify for your commercial loan, you can use it as you see fit for capital expenditures, operational costs, hiring, training and much more. You’ll benefit from simple repayment with no hidden fees or penalties.
Expand your property with a business development loan
If you’re developing land for use as an asset or investment, a business loan from a bank can help you secure the funds you need to construct or install improvements on your property. Our team is highly knowledgeable when it comes to business loans for real estate, capital development, and other project ideas you may have. We’ll stand with you every step of the way during the entire development process.
A term loan can take your business to new heights
An infusion of ready cash at the right moment can help a business go to the next level. That’s what you can expect when you choose one of our term loans. These business loans are especially designed to help you when you need it most – and make the repayment process as easy as it can be. We offer businesses a convenient and fixed repayment schedule to figure into your expenses.
Acquire the best equipment to enhance your business
Equipment is the lifeblood of many different kinds of businesses in Wisconsin and Illinois. Whether you are starting a dental practice, a welding shop, or a drone company, you need the proper equipment to bring your vision to life. Our bank can tailor your equipment/fixed asset business loans to suit your needs. We’ll assist you so that you can get the most favorable terms possible, shortening the time to reach ROI on your new investment.
Get the most viable option for your business with an SBA loan
As one of the most important engines of the U.S. economy, the U.S. Small Business Administration provides millions of dollars in annual loans for small businesses. At our bank, we can help you determine which SBA programs you may qualify for. We’ll assist you with your SBA research and can partner with you to facilitate certain qualifying SBA loans.
Open up more opportunities with business lines of credit
A healthy business needs access to credit to take advantage of opportunities as they arise. Our bank can extend lines of credit for many different situations based on your business performance and needs. We know that time waits for no one, so many of our customers in Wisconsin and Illinois are eligible to open a healthy line of credit quickly.
Seize the opportunity for a letter of credit
A letter of credit is a special communication issued by one bank to another, serving as a form of guarantee for payments made to a customer of the issuing bank. Letters of credit may be needed to engage in certain kinds of large-scale transactions overseas. We’ll be glad to help your company in Wisconsin and Illinois facilitate global transactions. In many cases, letters of credit can be issued quickly.
Obtain capital by making use of your receivables financing
Receivables financing may be a great option for you if your business typically takes longer than average to receive final payment from your customers. Utilize your outstanding invoices or other customer agreements as the collateral for your business loans. Here at our bank, your receivables are “good as cash” and can help you get the best loan terms.
We offer favorable corporate credit cards
With our bank, business credit cards are convenient and powerful. We provide a great combination of low-interest rates and attractive incentives to reward you for the time and attention you put into your business. We boast the best small business credit cards you’ll find in Wisconsin, Illinois, and across the country.
Frequently Asked Questions
What are the benefits of taking out a business loan?
There are many reasons why your company may consider taking out a business loan. This option can provide the capital you need to expand your business, hire new staff, or purchase new equipment. A loan can also help you cover unexpected costs or take advantage of opportunities that arise.
There are many benefits to getting business loans from banks, including:
- Access to capital: A business loan can provide you with the capital you need to grow your business.
- Flexibility: Business loans can be used for a variety of purposes, such as expanding your business, buying new equipment, or hiring new employees.
- Lower interest rates: Interest rates on business loans are typically lower than those on personal loans, making them an affordable financing option.
- Tax deductions: Interest paid on a business loan is tax-deductible, which can save you money at tax time.
- Boosts your credit score: Making timely payments on business loans can help improve your credit score, making it easier to get loans in the future.
Peace of mind: Knowing you have access to capital can give you peace of mind and help you strategize more efficiently.
Is a line of credit a good idea for a small business?
If you're a small business owner, you know that cash is king. Having a line of credit gives you the flexibility to cover unexpected expenses or changes to the company revenue.
There are several reasons why this may be a viable option for a small business:
- It can provide the capital necessary to cover short-term expenses and help manage cash flow.
- Use it as a backup source of funding in case of an emergency.
- Take advantage of opportunities when they arise, such as seasonal sales or new contracts.
- Smooth out your cash flow by providing a source of funding when you need it, without having to take out business loans from banks.
- It can be less expensive than a traditional loan, since you only pay interest on the amount of money you actually use.
What are the qualifications for a business loan?
If you’re thinking about starting a small business, you may be wondering if you qualify for a business loan.
In order to qualify for a small business loan, you must first have a solid business plan. This plan should include information on your proposed business, your target market, and your financial projections. Lenders will use this information to determine whether or not your business is likely to succeed.
In addition to a strong business plan, you must also have good personal credit in order to qualify for small business loans. Lenders will want to see that you have a history of making on-time payments and that you have the ability to repay the loan.
Finally, most lenders will also require that you have some collateral to secure the loan. This could be in the form of a home equity line of credit, a savings account, or even a piece of equipment that you already own.
Where can I find one of the best banks for business loans in Wisconsin & Illinois?
Blackhawk Bank provides a broad range of customized banking services across Wisconsin and Illinois. Our detail-oriented bankers will advise you on the most viable option for your business and the type of loan that will ensure your business continues to operate while you receive the finances you need.
From conducting business seamlessly with the best business credit cards to making safe payments online via SmartPay Express (Blackhawk Bank’s Express Payment System), our bank provides comprehensive services to make running your business a smooth and stress-free endeavor. With nearly a century and a half of experience and success in the industry, our knowledgeable bankers will provide you with the necessary advice and guidance to further enhance your business strategy.