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COMMERCIAL LOANSTERM BUSINESS CREDITNon-revolving fixed term credit, generally used to acquire or refinance acquired assets. Maturities are frequently short of amortization periods, for pricing and liquidity. This type of credit will provide a business with "term working capital" supplementing the customer's capital account and is most frequently repaid from the customer's cash flow (as opposed to asset turn). Profitability and cash flow (both historical and projected) are critical considerations.WORKING CAPITAL LINES OF CREDITTypically a revolving or multiple advance line of credit secured by working capital assets. Funds are normally used to support the ongoing operations of a business by funding inventories and/or receivables for the business cycle. Funding may be at some "permanent" level, that is, the line may not normally be retired during a business cycle or may be designed to be retired for some period (normally the low end of the business cycle). In the former case, collateral margins at the low end of the cycle can be expected to be significantly larger than at the high end.COMMERCIAL EQUIPMENTTerm loans granted for the purchase or refinance of revenue producing machinery or equipment. Maturities generally will not exceed the useful life of the product being financed and, except in rare cases, not exceed seven years. Repayment will come from the operation of the equipment being financed and, secondarily, other sources of business cash flow.BUSINESS AQUISITION FINANCINGGenerally term credit for the purpose of acquiring an enterprise, starting a new business or significantly expanding an existing enterprise. Collateral generally includes all assets owned by the business. The credit is normally further supported by guarantees of individuals with sufficient financial strength to support the business should it not meet original expectations.SERVICE INDUSTRY FINANCINGLoans to finance both the short and long term funding needs of service industry businesses such as insurance agencies, real estate agencies and other vendors of intangible products and services. Terms and conditions for this type of financing are often similar to the more general working capital and term loan guidelines.SPECIAL CREDIT TYPESSmall Business Administration LoansLoan plans that are used to finance working capital needs or the acquisition of fixed assets to start up or expand a business operation, or to restructure debt in a manner that would improve the financial condition of a borrower. This plan requires acceptance by the appropriate SBA lending authority, as they are providing a guarantee that the loan will be repaid at least in part (usually 75% of the remaining balance at the time of default). The amount of the loan is determined by the lender, however the maximum amount of the guarantee is $750,000.00 BUSINESS CREDIT CARDSA Business Card from MasterCard or Visa gives you the edge. The more you use it, the more you'll benefit with streamlined accounting, solid purchase protection and no annual membership fee. Please call or stop into a Mainstreet Bank location for complete information on our line of business credit cards.Click here to learn more and/or to apply for Elan Visa Consumer or an Elan Visa Business Credit Card. BUSINESS CASH AND CHECK CARDA Mainstreet Business Cash and Check Card from Instant Cash gives you the edge. Now you can buy whatever you need for your business without using cash or that bulky business checkbook at any merchant displaying the VISA logo and your purchase is debited directly from your checking account. And you have 24 hour access to your account via any ATM!MAINSTREET BUSINESS RESERVEIf your business has a continuing need for quick credit, or if you'd like overdraft protection for your checking account, the Mainstreet Business Reserve Line of Credit is ideal. The money is always just a check away, whenever you need it! COMMERCIAL AND RESIDENTIAL REAL ESTATE PROJECT FINANCINGMainstreet Bank is meeting the needs of builders, developers and real estate investors for land acquisition, development, construction and mini-permanent financing. We provide land development loans, revolving construction lines of credit, term loans, and construction loans. Whether you are building homes, or developing an entire residential subdivision or mixed use community, Mainstreet Bank can meet your financing needs. |
| Mainstreet Bank Vision: We Build Trusting Relationships by Valuing, Respecting and Recognizing Customers and Communities. |
