Helping bring your dream to life.
Personal assistance. Competitive rates. Flexible terms.
Starting a new business takes strong determination and business know-how. Our experienced business professionals have the knowledge, resources and responsiveness you need to get started on the right foot.
Use long-term financing to purchase assets.
Term loans typically carry a fixed interest rate and a predetermined payment schedule with a set maturity date. Term loans are often secured with business assets and provide the means for investing in the future of your business.
Great Solution For:
✓ Equipment purchases, new or used. From vehicles to computer systems.
✓ Real estate or construction loans
✓ Invest in your business with flexible financing
✓ Conserve your cash flow
✓ Your success is our business
Lines of Credit
Manage your cash flow more effectively with a line you can access instantly. Perfect for short-term cash when you need to adjust for variations in seasonal and business cycles.
A revolving line of credit is simple to use and provides a safety net in case of an emergency. Borrow against your credit line (up to your limit) when you need it. Pay it down when you can. Lines of credit may be secured or unsecured with interest rates that typically vary with the market.
Talk to us about our competitive rates.
Great solution for:
✓ Easy access to short-term borrowing needs
✓ Purchasing supplies and inventory
✓ Flexible repayment options
✓ Overdraft protection against your business checking account
✓ Set up your credit line to provide immediate cash whenever you need it.
Commercial Real Estate
Our business lenders will work side-by-side to help you complete your purchase or construction with a flexible draw schedule. We have term options with affordable monthly payments to meet your needs.
Letters of Credit
Our Standby Letters of Credit guarantee a customer’s ability to fulfill a financial obligation, offering a substitution for performance bond, or a credit enhancement for a contractual obligation such as a bond or lease.
Small Business Administration Loans
An attractive financing option for new small businesses is through the Small Business Administration (SBA).
SBA helps provide low-cost loans and line of credit options for qualifying start-ups. SBA financing offers many favorable features including:
- Low down payments,
- Fixed and variable interest rates, and
- Longer repayment terms.
We’ll even help you with your SBA application!
Business Resource Links
Our communities thrive on successful local businesses and offer a number of resources to help new entrepreneurs bring their ideas to life.
- Iowa Secretary of State
- Iowa Small Business Development Center
- Iowa Lakes Corridor Development Corporation
- City of Spirit Lake Economic Development