As your business grows, having access to capital becomes essential to acquire new assets or invest in infrastructure. Fortunately, there are many commercial loan options available to meet your needs. This blog from Greenville Federal provides an overview of common financing solutions to support business growth.
Commercial Real Estate Loans
The purpose of a commercial real estate loan is to purchase or refinance commercial property, including office buildings, warehouses, and retail spaces.
Key features:
- Loan terms typically range from 5 to 25 years
- Can be used to buy, build, or renovate property
- Often require a down payment of 10 to 30 percent
How Greenville Federal can help: We offer variable rate options and accept a variety of real estate as collateral.
Commercial Real Estate Construction Loans
These types of loans fund the construction of new commercial properties or major renovations.
Key features:
- Typically structured as short-term loans that convert into long-term mortgages upon project completion
- Funds disbursed in stages based on construction goals
- May require detailed project plans and cost estimates
How Greenville Federal can help: We provide loans with variable rate options and accept various real estate as collateral.
Business Line of Credit
A business line of credit provides flexible, revolving access to funds for working capital, inventory, or unexpected expenses.
Key features:
- Interest is only paid on the amount drawn
- Ideal for managing cash flow or covering short-term needs
How Greenville Federal can help: Borrow from us as needed and only pay interest on what you borrow. We offer flexible repayment options.
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Equipment and Vehicle Loans
Vehicle loans help your business finance necessary commercial vehicles for transport, delivery, or service operations. Similarly, equipment loans provide financing for business equipment, such as machinery, kitchen appliances, and manufacturing tools.
Key features:
- Equipment or vehicles serve as collateral
- Can be used for both new and used equipment and vehicles
- Offers fixed interest rates and predictable monthly payments
How Greenville Federal can help: Use this loan to purchase new or used equipment and vehicles, or to refinance an existing equipment or vehicle loan.
Business Term Loan
A business term loan provides a lump sum payment for a wide range of business needs, like expansions or inventory purchases.
Key features:
- Predictable repayment schedule with fixed monthly payments
- Terms typically span from 3 to 5 years
How Greenville Federal can help: Term loans can be secured or unsecured and used for nearly any business purpose.
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EZ Line of Credit
An EZ line of credit offers a simplified, fast-approval line of credit for small businesses that need quick access to funds.
Key features:
- Streamlined application process
- Fewer documentation requirements
- Often used for short-term working capital or emergency expenses
How Greenville Federal can help: EZ lines of credit are decisioned quickly for amount and term in a tiered system for businesses open for more than three years. Each tier may have different interest rates, terms, and qualification criteria. Higher tiers offer better rates and terms for lower-risk borrowers.
Get Started with Greenville Federal Today
Our experienced commercial loan originators can help you secure the right financing option for your business. Send a message below or visit one of our locations in Greenville, Tipp City, and Troy, Ohio, and experience the Greenville Federal difference for yourself.
