Commercial Loans & Lines of Credit | Commercial Lending Definitions
Term loans
Offered for terms generally between two and ten years, can be used for capital investment (such as the purchase of machinery or equipment), acquisition or expansion of a business, or to provide a semi permanent infusion of working capital.
Commercial mortgages
Can be used to purchase or refinance real estate from which a commercial business operates, or to acquire income producing or investment real estate (through CRE). Terms generally range from five to 30 years.
Equipment Leasing
Allows a business to lease equipment over a specific time period, typically between two and seven years rather than assume ownership. Enables you to match a specific revenue stream to a specific expense.
Working capital lines of credit
Secured by the assets of the business, a line of credit can provide ready access to funds whenever needed, without the inconvenience and delay of a credit approval for each advance. A revolving line lets you borrow, repay and re-borrow the funds any number of times during the life of the credit. A non-revolving line lets you borrow in increments up to a specified limit with repayment of full amount due at maturity of credit.
For commercial lending needs in Connecticut, call (860) 344-7224.
