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Commercial Loans

Commercial Loans
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Summary

When you need to expand your facilities or cover large receivables, Sutton Bank can set-up a term loan with a monthly or quarterly repayment schedule and flexible maturities. Annual lines of credit are also available.

  • Variable rate loan based on Wall Street Journal prime
  • Minimum loan amount of $5,000
  • Fixed rate loans offered for 3-5 years.
  • Amortization periods are 5-7 years for equipment and 10-20 for real estate
  • Repayment can be tailored to customer's need
Requirements
  • Annual personal and business financial statements and copies of federal tax returns required
  • Personal guarantees required
  • Borrower required to pay all necessary closing costs like recording fee and title search
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Sutton Bank, Member FDIC, Equal Housing Lender