Commercial Loans
Whether you have a specific financing need or are looking to maximize your business’ working capital to react quickly to opportunities, Lakeland Bank offers loans tailored to your needs. Our experienced, local Commercial Loan Officers are available to serve you.
Here are our loan options:
Term Loan
Term loans provide a specific amount of money for business expansion, or for permanent asset purchases, like equipment or vehicles.
Features and Benefits
- Longer term (5-7 years) financing for expansion projects, equipment, or tenant improvements
- Customized and predictable repayment terms over a fixed period of time
- Fixed or floating interest rates
- Secured by collateral that can include business assets, vehicles, equipment or accounts receivable
Line of Credit (LOC)
Meet day-to-day cash shortfalls with a line of credit.
Features and Benefits
- Lines from $50,000 to $20,000,000
- Typically for businesses with sales volumes from $1 million to $50 million
- Secured and unsecured lines of credit available
- Easy access through Online Banking
- Monthly payments vary from interest-only, to fixed principal plus interest payments, depending upon your business needs and the product chosen
- Revolving use of funds with advances and principal payments you control
- Collateral can range from accounts receivable to corporate or personal assets
Next Steps
Requirements: Subject to credit approval. Company must have been in business a minimum of 2 years. Requires a Lakeland Bank deposit relationship.
