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Commercial Loans

At Springfield State Bank, we realize that every business is its own establishment, and that each loan request is as unique as the business making the request. Whether you are purchasing equipment, looking to expand, exploring a new venture, renovating or building, Springfield State Bank has the expertise to structure a loan, establish a line of credit, or offer credit alternatives to meet the needs of your business.

Being the only locally owned bank in Washington County, Springfield State Bank understands the importance of doing business locally and we are committed to helping our local economy grow. Here are some of the benefits of getting your personal loan at Springfield State Bank:

  • Competitive Rates
  • Quick Approval – all decisions are made here
  • Experienced professionals with your best interest at heart
  • Closing at your most convenient branch
  • Money available when documents signed
  • Highly personal service
  • Automatic debit available from your account here, or from another bank
  • Track your loan via Internet Banking
  • Great rates
  • Flexible Payment Terms

The lending professionals at Springfield State Bank will work with you to structure a financial package that best meets the goals of your business. Each commercial loan is specifically designed to maximize your business potential. Springfield State Bank’s commercial loans include, but are not limited to:

Commercial Term Loan

When you need a specific amount of money for a specific period of time, a term loan can be designed. Term loans can help finance intermediate or long term fixed assets, such as equipment, improvements, acquisition, or permanent working capital. Loan terms will generally match the economic life of the financed asset(s).

Commercial Line of Credit

The flexibility of a line of credit allows you to meet your short-term operating needs and support seasonal cash flow fluctuations. Once the credit line is established, you will have immediate access up to your approved credit limit. Advances can be deposited into your checking account with the ease of a phone call or via Internet Banking. Lines of credit are made available for a term of one year. Renewals are subject to annual financial reviews.

Commercial Real Estate Loan

If you are building a new facility, looking to purchase or want to improve or expand existing property, then consider our Commercial Real Estate Loans. Flexible rates and terms are established by Springfield State Bank based on current market conditions and other criteria.

Construction Loans

Commercial short-term loans (generally less than 90 days), and letters of credit are also available from Springfield State Bank.

Participation Loans

If your loan request exceeds the lending limits of our bank, we have other banks we partner with to provide you with the funds you need.

SBA Loans

The U.S. Small Business Administration (SBA) provides financial, technical and management assistance to help Americans start, run and grow their businesses. Springfield State Bank is approved by the SBA to make guaranteed loans to small business. Loan proceeds can be used for real estate, furniture and fixtures, machinery and equipment, working capital and to a limited degree, to refinance existing debt.

Our decisions are made here under our roof. Springfield State Bank will assist you in managing your financial needs conveniently and quickly!