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Business Loans and Credit

Whether you are a small business with plans for buying equipment or have short term cash flow needs, Anchor Bank has the resources your organization needs to take that next step. You have ambitious goals for your business and our team is here to help you meet them. Learn more about the financing options we provide up to $1,000,000.

Business Equipment Financing & Leasing

Whether you’re looking to upgrade or acquire new equipment, we offer a variety of equipment loan and lease options that match your business strategy.

How it works for your business

  • Talk with a Business Banker to develop the financing plan that’s best for your business.
  • Finance or lease the equipment your business requires to help stay competitive, increase productivity, and enhance profitability.

The right equipment finance strategy could help you

  • Manage cash flow with low monthly payments at a fixed interest rate.
  • Protect your short-term liquidity with up to 100% financing, including soft costs such as sales tax, installation, shipping, and training.
  • Optimize tax benefits.
  • Match your expenses to revenue streams with flexible payment terms.
  • Manage your balance sheet with on- and off-balance sheet options.
  • Streamline payments and be more opportunistic by establishing an annual equipment lease line.
Lines of Credit

A working capital line of credit is a fast, convenient, and affordable way to access the funds your business requires. A line of credit provides ready cash to help you meet short-term funding needs, such as increasing inventory, dealing with seasonal cash flow issues, or taking advantage of unexpected opportunities.

How it works for you

  • Anchor provides your business access to working capital at a reasonable cost.
  • You can borrow the amount that you need when you need it.
  • You can access your line by writing a check or making a phone transfer to your Anchor Bank business checking account.


Key benefits to your business

  • You only pay interest on the outstanding principal balance each month.
  • Fast and convenient access to the credit line.
  • Use for important business opportunities and short-term funding needs.
  • Link to your business checking account to minimize interest expense and overdraft fees.
  • Loan amounts up to $10 million.
Term Loans

Term loans are an excellent solution for many borrowing needs. With a term loan, your business can repay the loan over a specific period of time (term) with set monthly payments. Whether you require new or upgraded equipment, extended working capital or plan to expand your business, a term loan is an easy way to get the money you need quickly.

How it works for your business

  • Talk to a Business Banker to determine the loan that’s right for your business.
  • Finance the purchases you need to grow your business.


Key benefits to your business

  • Low monthly payments at fixed interest rates.
  • Predictable payment amounts to help forecast your cash flow needs.
  • No hidden fees.
  • Loan amounts up to $10 million.
  • Up to 10 year amortization.
Real Estate Loans

Our Commercial Real Estate Mortgages make owning, refinancing, or renovating commercial real estate easy and affordable. With either our conventional or SBA programs, you’ll benefit from flexible financing options that include competitive rates, low monthly payments and long amortizations.

How it works for you

  • Contact a Business Banker to structure a loan that meets your unique loan needs.
  • Use your mortgage to refinance or renovate your commercial real estate key.

Key benefits to your business

  • Low monthly payments.
  • Flexible down payment requirements.
  • Loan amounts up to $10 million.
  • Up to 25-year amortization.
  • Competitive fixed or variable rates.
  • Flexible owner-occupancy requirements.
Credit Card

Choosing the right business credit card is easier than ever.

No matter which card you choose, you’ll enjoy important features like:

  • Award-winning expense management tools.
  • Free employee cards.
  • EMV smart chip technology for added security.
  • Mobile purchasing for added convenience.


Let’s get started…

Earn valuable rewards.

Visa® Business Cash Card
Earn cash back1 every time you use your card: 3% on office supply store net purchases and phone/internet services, 2% on restaurant and gas net purchases, and 1% on all other eligible net purchases, plus get $25 cash back after your first purchase. More
 
Apply now link

Visa® Business Bonus Rewards Card
Watch your rewards add up fast with 1 point for every $1 you spend on eligible net purchases, and receive automatic bonus points each month, plus get $25 cash back1 after your first purchase. More

Apply now link

Visa® Business Bonus Rewards PLUS Card
Watch your rewards add up even faster with 1 point for every $1 you spend on eligible net purchases, and receive even more automatic bonus points each month, plus get $50 cash back1 after your first purchase – all with a low annual fee. More

Apply now link

1 - Reward points can be redeemed as a cash deposit to a checking or savings account or as a statement credit to your credit card account. First purchase bonus points will be applied 6 to 8 weeks after first purchase and are not awarded for balance transfers or cash advances.

The creditor and issuer of these Cards is Elan Financial Services, pursuant to separate licenses from Visa U.S.A. Inc. American Express. American Express is a federally registered service mark of American Express.

 

 

SBA Express Program

The SBA Express is a streamlined program designed to provide access to financing for small businesses, which offers reduced documentation requirements and quick approval process.

How it works for you
Loans can be revolving with annual renewals up to seven years. The SBA guaranties 50% of the loan. The bank utilizes its own documentation to approve and service loan requests up to $350,000. Loans can either be term loans or revolving lines of credit.

  • Who is eligible – All businesses that are considered for financing under SBA's 7(a) loan program must: meet SBA size standards, be for-profit, not already have the internal resources (business or personal) to provide the financing, and be able to demonstrate repayment. Certain variations of SBA's 7(a) loan program may also require additional eligibility criteria. Special purpose programs will identify those additional criteria. Additional eligibility factors for all 7(a) loans include type of business and use of proceeds. Repayment ability from the cash flow of the business is a primary consideration in the SBA loan decision process, but good character, management capability, collateral, and owner's equity contribution are also important considerations.
  • Collateral requirements – Applicant may have a collateral shortfall, but all available business or personal collateral must be offered. Lines of credit are not governed by a borrowing base certificate for loans under $250M. The personal guaranty of each owner of 20% or more of
  • the business is required.
  • Interest rates – Rates are tied to the prime rate (as published in the Wall Street Journal) and may be fixed or variable, but they may not exceed SBA maximums. The rate is Prime + 4.5% for loans over $50,000 and loans under $50,000 may be up to Prime + 6.5%.
  • Maximum Loan Amount – The maximum loan amount for SBA Express is $350,000.
  • Maturity – Loan maturities are generally one-year terms for revolving credit lines with renewals up to seven years. Term loans can be up to a seven-year term.


Key benefits to your business

  • Fast approval process.
  • Streamlined, reduced documentation requirements.
  • Unlike most other SBA programs, the SBA Express can be used for working capital lines of credit.

Connect with our SBA team to learn more.

 

Subject to credit approval.