These are loans where the loan proceeds are advanced upon signing the promissory note and is repaid over a period of time with regular payments. These payments can be monthly, quarterly, semi-annual, or annual payments. We look at the needs of the company to determine how repayment should be structured. At the Bank of Bennington we pride ourselves at looking at what is best for the company when we structure your borrowing needs. We like to be problem solvers when it comes to your cash flow and repayment capacity. Term loans can be used for many purposes including the following:
- Commercial Real Estate purchase and refinance
- Equipment purchase and refinance
- Company Buy-outs
- Restructure company debt on better terms
- Real Estate improvements
- SBA Loans for start-ups or restructure
Lines of Credit
These loans are used for financing current operating needs until the time your cash flow allows for repayment. They are setup with a maximum limit with a typical term of one year. The balance on these loans fluctuates up and down to provide for short-term operating needs. This maybe to support increases in account receivable or to take advantage of special pricing for the purchasing of inventory needs.
This type of loan is used to accelerate the use of your accounts receivables. It provides financing for work that has been completed until the work is paid for. It works well for companies experiencing accelerated growth or companies just getting started that need an improved cash flow.