La Crosse, Wisconsin
4401 Mormon Coulee Rd.
La Crosse, WI 54601
608-788-6300

A Guide to Commercial Loans & How They Can Help Your Business January 16, 2018

La Crosse, La Crosse County
A Guide to Commercial Loans & How They Can Help Your Business, La Crosse, Wisconsin

As a business owner, it can be both overwhelming and exciting to handle all facets of a company. However, the financial aspect is arguably the most important factor in whether a company prospers. When a business needs help financially, a commercial loan may be the right path. The residents of La Crosse, WI, use River Bank to provide them with personalized commercial loan services that set their businesses up for success. Their banking professionals share what every business owner should know about commercial loans.

Everything a Business Owner Should Know About Commercial Loans

What Is a Commercial Loan?

It is a loan from a financial institution, such as a bank, to a business to fund various activities. As with other loans, the money is paid back to the lender in an agreed-upon timeline, with interest added.

How Are Commercial Loans Used?

commercial loanCommercial loans are most commonly acquired at the beginning of a company’s life, since start-up costs can be unusually large. They can also be used to buy equipment, inventory, and to make other investments that will lead to higher profits and more success for the business down the road. This includes construction. Without a loan, businesses would not be able to make expensive purchases that can put them ahead of competitors. 

How Does Your Business Secure a Commercial Loan?

Your credit score is the largest factor in determining whether someone gets a commercial loan. The lending institution will require proof that the business is in good financial standing with a stable cash flow. For example, the company’s balance sheet will show whether the loan can be repaid in a certain period. The interest rate on the loan will be based on the prime lending rate at the time the loan is secured. Throughout the length of the loan, the lender may expect to see financial statements periodically. This reaffirms the bank’s confidence in the business.

If you’re looking to secure a commercial loan, give River Bank a call at (608) 788-6300. They have more than 25 years of experience and have several convenient locations that make it easier to get financial advice and obtain the right commercial loans for your business. They also offer 24-hour telephone banking so that you’ll always feel secure with your finances. Visit them online to view their variety of services along with their current bank rates.

Other Announcements, Events and Deals from River Bank
Mobile Check Deposits vs. Going to the Bank: Why Mobile Banking Is Better, La Crosse, Wisconsin
While it used to be that you could only deposit your checks inside a branch, banking technology has since provided us with more convenient services such as mobile check deposits...read more
5 Helpful Steps to Take Before Applying for a Mortgage Loan , La Crosse, Wisconsin
Owning a home is a goal many people strive towards. Unfortunately, that dream can be clouded by a lack of preparation before applying for a mortgage loan. That’s way the team at...read more
Banking Tips: How to Save for Your Next Summer Vacation, La Crosse, Wisconsin
If you’ve been bitten by the travel bug, you’re far from alone. Summer is ripe with adventure, but to visit that dream destination, you’ll need a proper amount in your...read more
Applying for a Commercial Loan? These 5 Steps Are Crucial, La Crosse, Wisconsin
As a small business owner in La Crosse, WI, applying for a commercial loan may be an important part of ensuring your company remains successful. In this case, the skilled team a...read more