Commercial Loans

Planters Bank offers multiple types of Commercial Loans to fit your borrowing objectives. Lending decisions are made locally, and we will work with you to recommend the most appropriate loan type and payment terms. To find out what loan types we offer, please see the list below. Contact any Planters Bank office to connect with a Commercial Banker …who will help you take your next steps toward securing the loan you need!

Payroll Protection Program (PPP)

The main stimulus for small businesses in the CARES Act is the Paycheck Protection Program (PPP). CARES = Coronavirus Aid, Relief and Economic Securty (CARES) Act.  Please watch for loan forgiveness information soon for those that have received loans from this small business assistance program.

 

Small Business Loan Express

Receive the funds you need to cover short-term expenses or grow your business. Get approved for a loan or line of credit in any amount from $1,500 to $50,000.

Features:

• Apply in Minutes – Approval in Seconds
• Access Funds within 3 Business Days
• Fixed-Rate Term Loan or Variable-Rate Line of Credit
• Low Closing Fee
• Exclusively for Planters Bank Checking Account Customers¹

Apply Online

Commercial Real Estate

Planters Bank is prepared to help you expand your commercial holdings, redevelop an existing building, build new ones or procure a single building for your primary business. Our Commercial Lenders are available for one reason: To help you!

Features:

• Types of Loans (Examples):
  • Building Acquisition, Expansion and/or Improvements
  • Land Acquisition, Site Preparation and Infrastructure
  • Commercial Construction
  • Leasehold Build Out or Renovations
  • HVAC, Plumbing, Electrical, Roofing or Energy Efficiency Improvements
• Competitive Interest Rates with Flexible Repayment Terms
• Short-Term, Long-Term and Convertible Financing Options Available
• Prompt Loan Processing, Review and Approvals 
  
  

Equipment Financing

Planters Bank’s experience covers the spectrum of Equipment Financing. Whether you need only an individual piece of equipment or you’re considering an equipment package, we’re here to help you get the most for your money.

Features:

• Types of Loans (Examples)
  • Furnishings, Fixtures or Fixed Equipment
  • Vehicles and other Rolling Stock
  • Manufacturing or Technology-Related Equipment
• Specialized Equipment, Computer Hardware or Critical Software
• Competitive Interest Rates and Flexible Repayment Terms
• Short-Term, Long-Term and Convertible Financing Options Available
• Prompt Loan Processing, Review and Approvals

Operating Loans & Lines of Credit

Need money to get over a hump? Or need the security of knowing money is there when you need it? We are prepared to help you evaluate your cash flow needs and work with you on providing money when – and how – best serves your business.

Features:

• Types of Loans (Examples)
  • Working Capital
  • Accounts Receivable
  • Lines of Credit
  • Letters of Credit
  • Business Credit Card
• Establish and Maintain Inventory
• Setup, Equip or Expand your Business
• Seasonal Employees (full-time or temporary)
• Tax Payments or Unexpected Expenses

Residential Development & Construction

When you need money to make a deal work, there is no better time to work out financial details than well in advance. Planning and preparation with your Commercial Lender can pay off in big ways in the Residential Development & Construction business.

Features:

• Types of Loans (Examples)
  • Land Acquisition and Development (A&D)
  • Construction Loans for Speculative or Custom Homes
  • Front-end Project Financing or Flexible Line of Credit
• Commercial and/or Residential Developments
  • Lending Team Stays on Top of Project Progress … so Developer receives prompt progress draws
• Single and/or Multi-Family Homes
  • Lending Team Stays on Top of Project Progress … so Builder receives prompt progress draws
    
    

SBA & USDA Loans

These loans are partially backed by the Federal Government, primarily in rural areas. Planters Bank has experienced Commercial Lenders to help you determine if you are eligible for this type of loan … and then work with you to take advantage of these types of loans.

Features:

• Types of Loans
  • Small Business Administration (SBA) Loans
  • U.S. Department of Agriculture (USDA) Loans
• SBA Guarantees up to 85% of loans or up to $150,000 or 75% of loans greater than $150,000
• USDA Business Loans offer higher loan amounts, lower interest rates and longer terms than conventional bank loans … all of which are great for small business owners, non-profits and other organizations in rural areas
• Planters Bank can provide assistance from an experienced, Local Business Banker who understands federal-backed lending programs
• More on Federal-Backed Small Business Loans
  • SBA 7(a) Loans
    • Available for Many Types of For-Profit Small Businesses
    • Can Be Used for Multiple Purposes Including Business Start-up Costs, Property Acquisition or Renovation, Working Capital, Acquiring Fixed Assets or Other Purposes
    • Fixed Maturity Not Based on Collateral Requirements
    • Structured as a Term Loan with Monthly Payments
  • SBA 504 Loans
    • Available for Many Types of For-Profit Small Businesses
    • Can Be Used for Acquiring Long-Term Fixed Assets, Long-Life Equipment, Certain Working Capital Expenses or Facility Improvements, Including Energy Efficiency
    • Fixed Maturity of 20 Years for Real Estate or 10 Years for Equipment
    • Structured as an Amortizing Loan without Balloon Payments
  • USDA Rural Development Loans (United States Department of Agriculture)
    • Available to For-Profit Businesses Operating in Rural Areas (Generally Population 50,000 or Less) Committed to Expanding Employment Opportunities
    • Can Be Used for Multiple Purposes Including Business Property Acquisition or Renovation, Working Capital, Acquiring Fixed Assets or Other Purposes
    • Fixed Maturity up to 30 Years
    • Structured as a Fully Amortizing Loan without Balloon Payments

Loan Payback Options

Features:

• Single Purpose Installment Loan – with repayment ranging from Months to Years
• Adjustable Rate – with up to 15-Year Amortization
• Fixed Rate – with up to 30-Years Amortization

Calculator: What would my payments be?

Commercial Loan Application Info Request Bank Offices Switch to Planters

¹ Your Planters Bank Checking Account must be open for at least 90 days to be eligible.