limited interest-only payments at the beginning of the loan term available","longer Terms":true,"image":"https://www1.bac-assets.com/smallbusiness/business-financing/spa-assets/images/assets-images-site-sb-lending-quiz-module-stethoscope_193x130_crushed-CSXcf9bb3d6.png","apply Now":,"learn More":},"recommend Purchase Vehicle":,"recommend Buy Commercial Real Estate":,"recommend Secured Loan":,"recommend Unsecured Loan":,"recommend Secured Credit":,"recommend Unsecured Credit":}"Business Advantage Credit Line: Save up to 0: As a small business owner, you’ll pay an origination fee of just — that’s a savings of 0 on the one-time origination fee.Applications must be received between July 5, 2019 and September 30, 2019.The credit will be applied to the account after the origination fee is posted. Loan terms: Up to 10 years (with balloon payment); Up to 15 years (with full amortization)Qualifications: Minimum 2 years in business under existing ownership; minimum 0,000 in annual revenue Go to commercial real estate loans Loan terms: up to 4 years (when secured by business assets); up to 5 years (when secured by CDs)Qualifications: Minimum 2 years in business under existing ownership; minimum 0,000 in annual revenue Go to secured term loans Advertised as low as rate is effective as of January 1, 2019 and is subject to change.
If you have been in your present business for under five years, please describe your previous business experience.
(Include business background, management experience, and training, or include a resume.) The undersigned certifies that, to the best of his or her knowledge and belief, all information contained in this loan application and in the accompanying statements and documents is true, complete, and correct.
: For incorporated borrowers, guarantees of owner(s) is usually required, unless secured by Bank deposits or marketable collateral.
If personal assets are in joint names, a sole proprietorship, and/or partnership, the Bank may require all parties to pledge collateral.
Plus, enroll in Autopay within 90 days of opening your line of credit, use your checking account to make your Autopay payments, and get a $50 credit to your Business Advantage Credit Line account.
The credit will be applied to the account after the origination fee is posted. Business Advantage Credit Line: Save up to 0: As a small business owner, you’ll pay an origination fee of just — that’s a savings of 0 on the one-time origination fee.
The loan collateral may include business assets, stocks, bonds, certificates of deposits, or personal assets.
Consider (1) the value of the loan collateral must be equal to or greater than the amount of the loan, (2) expected economic life of collateral will be considered by the Bank in evaluating the collateral offered for the loan, (3) formal collateral appraisals may be required, and (4) a pledge of personal assets may be required as additional collateral for the business loan requested.
The content includes the loan amount requested, a description of your business, the purpose of the loan, target market and competition, and the amount you have invested in your business.
Call the bank and ask for the name of the person who handles business loans and address the letter to that individual.