Commercial Lending
We’re ready to help build your business.
We lend strength to our community by helping local businesses grow and prosper. We are locally owned and operated and understand the local market, its challenges and, best of all, its opportunities. Lending decisions are made locally, so you’ll enjoy quick turn-around time and lenders who are accessible.
We know this community, the people, the businesses, the schools and their needs. We believe in building long-term relationships and are committed to working with you to achieve your financial goals. We focus all of our skill, technology and energy to develop a financial blueprint to help your business succeed.
Premier Bank can help you start or expand your business with our commercial lending services. These services include construction loans, real estate financing, fixed asset financing, and business acquisition financing, all designed to meet your specific financing objectives at a very competitive interest rate. For start-up businesses, Premier Bank has partnered with the Small Business Administration to provide the resources necessary in this often critical time of a business’s life.
Commercial Construction Loans
Interim financing is available to professional builders for the construction of single family, multi-family and commercial properties along with permanent financing when the construction is complete. Financing for the purchase of land and development of real estate for single family and multi-family property is also available.
Commercial Real Estate Loans
We offer permanent financing for the construction and/or development of business real estate such as manufacturing facilities, warehouses and other general-purpose buildings or for the purchase of business assets, short term working capital and other products to meet the specific needs of your commercial property.
Revolving Lines of Credit
You’ll have access to your line of credit for the financing of receivables and inventory, or to help cover operating expenses.
Small Business Administration Loans
Premier Bank offers a wide range of SBA Loans to fit your financial needs including: Low Doc Loans, Express Loans, 7(a) Loans and 504 Loans.
Getting Started
Every business opportunity is unique. Requirements may vary, however when applying for a commercial loan, you can speed up the application and approval process by providing the following information:
1. Written Business Plan or Proposal
A complete, well-organized proposal will expedite your loan approval process. A proposal would normally include a document describing the type of business, annual sales, number of employees and description of collateral offered to secure the loan, including equity in the business, borrowed funds and available cash. A cash flow projection is also helpful.
2. Business Financial Statements
Complete financial statements for the past three years and current interim financial statements including income statements revealing your business profits or losses and balance sheet for the same period.
3. Business Tax Returns
These should reconcile with the business financial statements. In addition, personal tax returns are also helpful in the decision process.
4. Personal Financial Statements
A Personal Financial Statement lists all personal assets, liabilities, net worth and monthly payments. Include Statements for owners, partners, officers and stockholders owning 20% or more of the business, as well as your personal tax return for the past three years.
The strength and accuracy of your financial statements will help facilitate the lending decision, so be sure they are carefully prepared and up-to-date.
5. Accounts Receivable and Payable Agings
Break your receivables and payables in to 30, 60 or 90 days and past 90-days old categories.
Additional documentation may be required depending on your loan request. However, if you have these five items available, you’re well on your way. Premier Bank will work hard to provide the type of credit you need, when you need it. We offer competitive interest rates and Premier Service. Our experienced lenders know what it takes to get you started and will work with you every step of the way.
Additional Products & Services
Deposit Accounts
It is essential to maximize your company’s deposits. That’s why we offer a wide range of checking accounts to help manage your day-to-day cash flow and savings options like our Investment Savings and Business Platinum Money Market Accounts, which provide the maximum return on your excess funds.
Business Credit Cards
Enjoy improved financial management, extra corporate buying power and all the advantages of our Visa Business Cards. Choose from a variety of credit card options, including Visa Business Flex Miles that reward you with free airline tickets. Our cards are accepted worldwide at businesses and financial institutions. Let our Business Card take care of your business.
Sweep Services
Manage your money by keeping your excess cash flow working for you. A "target" balance is determined and your excess funds sweep into investments each night. This account is available to non-profit organizations, public funds and sole proprietorships.
Internet Banking
The most convenient way to bank and it’s FREE. All you need is the Internet to access your checking, savings, money market, CD and loan accounts 24 hours a day, 7 days a week. Automate your accounting and bookkeeping functions, review account balances, transfer funds between accounts and reconcile your accounts online.
For more advanced needs, add the Cash Management option for only $24.95 a month. This electronic service helps you efficiently manage your cash balances and improve your cash flow. It provides online banking solutions to collect receivables, process payroll direct deposits, invest surplus cash, create customer ACH transactions, initiate stop payments and wire transfers. The advanced security options allow you to customize levels of access to authorized staff.
Merchant Card Services
Through our merchant card services, you can offer customers the convenience of paying for purchases with credit or debit cards. You will receive a monthly statement showing a daily reporting of all your transactions to help with your account reconciliation. Plus, you have the flexibility of renting, leasing, using your existing equipment, or upgrading to new equipment.
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Commercial Lending
