Business Loans - Learn More

Real Estate

Purpose: Refinance or purchase of owner-occupied and investment real estate

Pricing: Rates are determined based on credit quality

Term: 3, 5, or 7 year balloon rates for permanent financing

Amortization: Based on credit quality, with a maximum of 25 years

Suitable Loans and Business Types:

• Office Buildings
• Retail Centers
• Multi-Use Properties
• Multi-Family Residential
• Warehouse
• Agricultural Real Estate
• Light Industrial

Lines of Credit

Purpose: Working capital

Pricing: Variable rates are based on credit quality.  Rates are indexed to the prime rate as reported in the Wall Street Journal® plus a margin.

Term: Maximum of 2 years

Collateral:  We will not utilize account receivables or inventory as collateral.  Contact State Farm Bank® Business Lending at (800) 504-5217 to discuss collateral options.

Short-Term

Purpose: Purchase or refinance of business needs, including but not limited to auto, equipment, furniture, machinery, and office build out

Pricing: Fixed interest rates based on credit quality

Term: Maximum of 5 years

Amount: Minimum of $25,000 (with the exception of vehicle and equipment/machinery loans-$15,000 minimum)

Collateral: We will not utilize account receivables or inventory as collateral.  Contact State Farm Bank® Business Lending at (800) 504-5217 to discuss collateral options.

Business Auto Loans

Purpose:

• Purchase/refinance business-use vehicles
• Maximum of 4 vehicles
• Vehicles 5 years old or newer
• No private party sales

Pricing: Fixed interest rate based on credit quality

Term: Maximum of 5 years

Amount:

• 90% of LTV on purchases of new vehicles
• 80% of LTV on purchases or refinance of used vehicles; less than 100,000 miles
• Minimum $15,000 loan amount

Amortization: Fully amortizing, monthly payments including principal and interest

Business Equipment and Machinery Loans

Purpose:

• Purchase (no refinances) of business equipment and machinery
• Equipment and machinery 5 years old and newer
• Equipment and machinery must be mobile (not fixed)
• Non-titled equipment and machinery only
• No private party sales

Pricing: Fixed interest rate based on credit quality

Term: Maximum 54 months

Amount: Minimum loan amount of $15,000

Amortization: Fully amortizing, monthly payments including principal and interest

Please visit the Business Loans Frequently Asked Questions (FAQ's) section for more information.

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