Commercial
Loans
 Working
Capital Line of Credit
A Working
Capital Line of Credit is used to help businesses maintain
cash flow. It allows businesses to carry their receivables
and inventory or offset seasonal demand. It has a variable
rate that is tied to prime.
Equipment
Loan
Keep your
business up to date with an equipment loan from North Side
Bank. This is an amortizing term loan, 3 – 7 years in
length. It has a variable rate tied to prime.
|
back to top
Commercial
Mortgage
A commercial
mortgage is used 99% of the time for owner occupied businesses.
It is a 3 year adjustable rate mortgage with a 15 year term.
The rate is based on the 3 year treasury rate plus 3.25%.
North Side Bank holds the 1st mortgage and we can loan 70
– 75% of cost or appraisal (whichever is lowest).
|
back to top
Government
Loans
Small
Business Administration (SBA) Loans
- SBA
504 – The buyer puts in 10%, North Side Bank puts
in 50% and the SBA puts in 40%. North Side Bank holds the
1st mortgage.
Other
Government Sponsored Programs
|
back to top
Letters of Credit
This substitutes
the good credit of North Side Bank for the credit of one of
our customers. We guarantee payment for our customer.
This becomes a loan only if drawn upon. The fee is 1
– 2 % per annum on the amount of the letter of credit.
|
back to top |
