| Business Lines of Credit: |
| Community 1st Bank offers revolving and non-revolving business lines of credit to cover a diverse range of needs. General working capital, seasonal operating, asset-based and equipment acquisition lines of credit are all available. Whether you need extra liquidity to meet seasonal needs, finance growth take advantage of discounted purchase terms or acquire equipment from various venders and then term out those purchases under one note, Community 1st Bank will work with you to understand your business needs. Most of all, business owners will have access to the bank’s executives who have the lending expertise and authority to make decisions for most requests quickly. |
| Business Term Loans: |
| Term loans for equipment purchases, business expansion or acquisition, or consolidation of existing business loans are available. If you are looking to make your business more efficient, broaden your product line, acquire a business, expand into new geographic areas or for other business purposes, Community 1st Bank can offer terms to meet your needs. |
| Business Equipment Leasing: |
| Community 1st Bank’s has collaborated with an experienced leasing firm to provide businesses with the option of leasing capital assets through True Tax leases, $1 Purchase Option leases, 501-C leases, Municipal leases, Sale lease backs and Capital Operating leases. Please contact your Community 1st Bank Service Representative for details. |
| Business Letters of Credit: |
| When your business is in need of a Standby Letter of Credit to secure a vendor relationship, place an order for equipment or for other business purposes, Community 1st Bank can assist. Community 1st Bank can also assist businesses with Documentary Letters of Credit. Please contact a Community 1st Bank Service Representative for further information. |
| Commercial Real Estate Financing: |
| Community 1st Bank can provide term financing for the purchase or refinance of commercial real estate for both business owners and real estate investors. Financing for office, retail, industrial, medical, flex space, multi-family and other types of income-producing properties is available. A variety of interest rate options are available to meet your needs. Flexible terms and amortization schedules results in financing that meets your needs. |
| Construction Loans: |
| Community 1st Bank offers the experience of its staff to assist business owners, developers and individuals with construction financing. The interest rate charged for construction loans is generally tied to the Prime Rate, with alternatives available. Commercial construction loans for ground up construction, renovations and expansions are available for retail, office, industrial, flex space, multi-family (5+), mixes use, self storage, medical office, office and light industrial condominiums, and gas stations. The Bank will consider other special-use property construction on a case-by case basis. |
| Developers building small to medium-size office, industrial or neighborhood retail properties are welcome. Terms are dependent upon loan-to-value, location, leasing and projected dept service coverage. |
| Residential construction loans are available to owner occupants utilizing a licensed contractor to build their residence as well as to developers/contractors building single-family residences for sale. Residential subdivision development loans are also available for small to medium-size developers. |
| SBA 504 Commercial Real Estate Financing Program: |
| Community 1st Bank offers financing to qualified borrowers for owner-occupied commercial real estate under the U.S. Government’s SBA 504 Loan Program. Loans can be used for the purchase, construction and renovation of commercial properties under the program, which requires that the majority of the space be owner-occupied. A percentage of the loan proceeds can also be used for major equipment purchase. Working in coordination with Certified Development Corporations, which underwrites the SBA 504 portion of the financing package, Community 1st Bank can assist business in securing commercial real estate financing tailored to suit your cash flow and working capital position. |
