Many companies rely on large-scale equipment to run their businesses. Whether you’re purchasing a large-format printer, tractor for your farm, or a new CNC lathe, business equipment financing through Lake Region Bank could be the solution you’re looking for. Here is a look at the business equipment financing we offer.
Business Equipment Financing with an SBA 7(a) or Other Loan
Lake Region Bank is a preferred lender for SBA7(a) loans. Lake Region Bank is also an approved SBA 504 lender for qualifying loan purposes.
The SBA 7(a) loan is the Small Business Administration’s most common loan program. Funds from an SBA 7(a) loan can be used to purchase equipment, machinery, fixtures, furniture, and other business supplies. To be eligible, you must be a for-profit organization that does business in the United States. You must also demonstrate the need for the loan, among other requirements. The Lake Region commercial lending team can help you decide if an SBA loan is the right choice for your business equipment financing need.
Ag Equipment Financing with a USDA Business and Industry Loan
The USDA offers a variety of business and industry loans for agricultural enterprises. This includes individual farmers, businesses, cooperatives, and non-profits, among other groups. USDA loan programs can fund investments in renewable energy, equipment for slaughterhouses and other meat processing operations, and other large-scale agricultural equipment. There are several different USDA loan programs. Lake Region Bank can help you decide which one is the right fit for your big purchase.
Lake Region Bank Commercial Loan
If you are setting up a new location or are investing in machinery or equipment for an existing business, a line of credit or term loan with Lake Region Bank could be a good fit for you. We understand business in Kandiyohi County and know that our success depends on your success. See us for all your business’s financial needs:
- Operating lines of credit
- Purchasing equipment
- Commercial real estate financing cash out for equipment needs
If you’re looking for business equipment financing for your next big purchase, get in touch with the commercial lending team at Lake Region Bank, the small town bank with big city banking solutions.
