Loans for business use
From local underwriting, to fast turnaround times and personal inspections, business loans are what Elsewhere Bank does best.
Agricultural Loans and Lines
- Funds available for any qualified agriculture related need.
- Draw funds as budgeted.
- Advances are made directly to your Elsewhere Bank checking account.
- FmHA Guaranteed Loans
- Elsewhere Bank has extensive expertise in this field.
Equipment Leasing
- Terms from one to five years.
- Fixed interest rates.
- Monthly or annual payments.
- Lower down payments mean more cash to work with.
- Interest may be tax-deductible; consult your tax advisor regarding
deductibility of interest and other fees or charges.
Business Construction Loans
- Variable rate loans.
- Ten-draw system, with inspections within 24 hours.
- Borrow up to 70% of the appraised value.
- Quick turnaround time.
- Local underwriting, inspections and disbursements.
- Automatic disbursement of funds to your Elsewhere Bank account.
Commercial Real Estate Loans
- Borrow up to 70% of the appraised value.
- Loans for owner occupied and non-owner occupied properties.
- Interest rate fixed for up to five years.
- Local underwriting.
- Know exactly what your monthly payments will be.
- Build equity, instead of leasing or renting.
Business Lines of Credit
- Cash whenever you need it.
- Payments can be interest only.
- 1% fee the first year; annual renewal fee is 0.5 point.
- Peace of mind knowing the money is available.
- Telephone transfer funds to your Elsewhere Bank account.
- Use funds for any short-term needs.
- Local decision making.
Express Business Lines of Credit
- Fewer documents required.
- Reduced fees.
- Accelerated approval process.
- Lines up to $50,000.
- Ability to use as an overdraft protection for a business account.
Business Term Loans
- Loans with fixed terms and repayment schedules are also available for
equipment purchases and working capital.
Express Business Term Loans
- Fewer documents required.
- Accelerated approval process.
Work with an expert
Whether online, over the phone, or in person, our Loan Specialists are ready to help you through the loan process in the way that’s most convenient for you. Contact us today:
- Call: 1-800-555-9000
- Click: Contact form
- Visit: 14 branches
Resources
A word about calculators
The information provided by these calculators is for illustrative purposes only. The default figures shown are hypothetical and may not be applicable to your individual situation. Be sure to consult a financial professional prior to relying on the results. The calculated results are intended for illustrative purposes only and accuracy is not guaranteed.