Types of Commercial Loans at Lake Region Bank

If you’re planning a major purchase for your business this year, Lake Region Bank is here to help. Our friendly, expert team can help you understand the different types of commercial loans available so you can make the best financing decision for your business. Here’s a brief look at the types of loans we offer. Get in touch with us to learn more about your options.

Commercial Real Estate Loans

The Lake Region Bank commercial lenders can help you secure funding for your new building, expansion, or land development project. Our products can help you purchase your new property or build out your leased office space. You can also use our commercial real estate loans to refinance your current arrangement. Whatever your real estate plans for your business, our expert team is here to help.

SBA 7(a) Loans

Lake Region Bank is a preferred lender for SBA 7(a) loans. We are also an approved lender for SBA 504 loans for qualified customers. These loans are available in partnership with the Small Business Administration. An SBA 7(a) loan can be used to purchase machinery, equipment, furniture, fixtures, 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 that you need the loan to make your purchase, among other requirements. If you qualify, you may take advantage of low down payments, flexible amortization, and the local know-how of our Kandiyohi County-based team.

Business Line of Credit or Term Loans

If you are setting up a new shop or 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, including:

  • Operating lines of credit
  • Purchasing equipment
  • Commercial real estate financing cash out for equipment needs

As you’re planning your 2023 expenses, consider a commercial loan solution with Lake Region Bank. Our team can explain all of your options so you can make the right choice for your business. Get in touch with our team today.

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