Four Types of Business Loans to Help Your Struggling Business Flourish

Few times in history has there been such an urgent need to support businesses. For all too many, the pandemic has cut off cash flow for weeks, if not months, and in some cases entirely. Exacerbating things, mere moments after the big banks opened their doors to the government’s support packages in the form of business loans, including the Paycheck Protection Program (PPP), they were all out of money!

The situation was so dire; businesses left these banks in droves. NobleBank & Trust, however, is still standing firm, offering loans to businesses across Alabama to this very day and beyond. 

On the other side of the coin, rather than even attempt to secure a loan, many businesses have been white-knuckling their way through pandemic troubles–or, if lucky enough, through growth spurts. If there’s one thing we understand at NobleBank & Trust, it’s that a loan is not a bad thing. 

Business Loans You Need to Know About

Oftentimes we associate loans with failure. This is far from the truth! Even the most successful businesses in the world have a certain amount of debt, as bond notes, credit, and capital investments are the engines of capitalism. While loans do, in fact, help businesses through the worst of times, they can also be direly needed in the best of times when cash can’t come in fast enough to keep up with rising demand. 

It’s equally important to understand what type of loan is right for your business. Whether you need materials, cash flow, or payroll assistance, different loan structures can be tailored to your circumstances. Today we’ll talk about the four loans offered by NobleBank & Trust and how they can help your business today.

Business Term Loan

Our business term loans provide assistance for just about every sector imaginable, from working capital loans that help you meet unexpected expenditures to loans for building and equipment. Here’s a list of examples, far from exhaustive, showing what types of term loans we provide: 

  • Commercial auto loans
  • Equipment loans
  • Real estate loans
  • Working capital loans
  • Revolving lines of credit
  • Builder construction loans

Better yet, we can structure loan conditions that are tailored to your business’ needs. NobleBank & Trust offers extremely competitive terms in an environment where interest rates are already at record lows. Our dedicated bankers are imaginative and flexible in creating terms that are fair, reasonable, and, most of all, unrestrictive to your business practice. 

Our dedicated bankers will work with your business on an individual basis to create a loan package with the right size, rate, and term. Furthermore, we will examine your business’s details to understand how you can best meet the conditions required to fulfill any loan requirements or covenants. 

The best part about having our term loans approved is the satisfaction we helped a business survive and thrive. 

 Business Lines of Credit

Earlier, we mentioned that loans aren’t a bad thing. This couldn’t be more evident than in the lines of credit that NobleBank & Trust offers client businesses. 

While term loans are supplied immediately, with fixed amounts and due dates, lines of credit are quite the opposite–they’re meant to be used whenever needed, and however needed. For example, the credit revolver is the most common line of credit offered to businesses large and small. When NobleBank & Trust signs off on a credit revolver for your business, it allows the business to ‘tap into’ that line of credit when and how it’s needed.

Lines of credit provide far more flexibility than most loans. Using our example, credit revolvers can be used much like an individual might use a credit card (e.g., when it’s simply more convenient than using cash or when unexpected expenditures arise). Interest is paid only on the amounts used, and you can use that amount again and again, so long as you pay it back when the bill comes due. 

Equipment Loans

Equipment might depreciate on the balance sheet in a straight line over time, but we all know that the motor might stop running at any moment. Whether you own a construction or courier business, it’s imperative that the company keeps up with the latest hardware. 

As with all our loans, NobleBank & Trust offers equipment loans at extremely competitive rates. This can be advantageous when the housing market is booming for building companies. Local theaters and recreation centers are finding it difficult to refurbish equipment for when demand returns. We’re making sure to offer equipment loans that meet the needs and stresses of all types of business. 

Better yet, because we’re a community bank, our dedicated bankers can provide attentive service and quick approvals for equipment loans. 

Our equipment loans offer the following (and much more):

  • Finance new or used equipment
  • Available to businesses in a range of industries
  • Avoid costly lapses in production
  • Meet needs without cutting into working capital or savings
  • Stay ahead of the competition
  • Competitive rates with accommodating repayment terms

Commercial Real Estate Loans

Now that we’ve covered loans for your business, what about loans geared toward where your business will operate? 

As with all of our loans, NobleBank & Trust caters to businesses of all stripes when it comes to commercial real estate loans. Our experience and knowledge of Alabama allow us to tailor loans to business such as an accounting firm with a dozen-odd employee that needs a loan to lease out their office. Conversely, maybe a massive contracting company with a need to warehouse masses of equipment, seat hundreds of employees–and build the very houses they mean to sell!

As with our other loans, our real estate loans come equipped with variable-rate and balloon payment options. Variable-rate options allow you to take advantage of lowering interest rates, which could lower the cost of your loan. Balloon payments permit for lump sums that lower the interest rate you pay monthly. 

Our dedicated bankers will also provide full amortization–i.e., payment schedules–so you can plan accordingly for your business. 

Why Choose NobleBank & Trust for Your Business Loan?

Regardless of what kind of loan you need, the most important factor is that you have confidence in the bank that provides you the loan. Our staff is local, which isn’t just a distance, but a state of being. The bottom line is, we offer what other banks can’t:

  • Competitive rates for a wide range of long-term or seasonal business needs
  • Lending professionals with a working knowledge of the local real estate market
  • Local underwriting and administration
  • Personal service
  • Competitive rates with accommodating repayment terms
  • Various terms available
  • Pre-approval available

As an Alabama bank, we’re just a phone call away from talking through your loan or going over any questions and concerns. We offer a real working relationship that bigger banks simply can’t, whereupon trust and values stand behind our numbers. 

And remember–far from a bad thing, borrowing money is the cornerstone of America’s enterprising spirit. Take your business to the next level and meet your capital needs by calling us today!

Trust Your Business Banking Needs to NobleBank & Trust

NobleBank’s slogan: Friendly. Proactive. Professional. A community bank with “big bank” services and technologies, NobleBank meets the needs of our community and builds value for our business customers in a way you won’t find at other banks. Click here to find a location throughout Central Alabama near you, or give us a call for a consultation that addresses your business’ unique needs at 256-741-1800.

logo, company name