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Business Banking
   
Loan Options for Businesses

 

 

 

Letters of Credit
 
Letters of credit are issued to prove borrowing ability without actually receiving a loan at that time.
 
 
Lines of Credit
 
Lines of Credit are provided anytime the business has a seasonal need for additional cash flow. These loans usually carry a maturity of one year or less and may be drawn on as needed with interest being accrued on the portion of funds used.
 
 
Real Estate Loans
 
Real Estate Loans are used to purchase Commercial Real Estate or are secured by Commercial Real Estate. These are considered long term loans with maturities up to 20 years.
 
 
Construction & Expansion Loans
 
Construction Loans are used for the construction of business or commercial facilities. Maturities on these loans are based on the estimated time of completion of the construction. After construction is completed this loan is generally converted to long term financing.
 
 
Working Capital Loans
 
Working Capital Loans are used when additional funds are needed for the start-up or operating expenses of a business. These loans generally carry a maturity of 1 to 5 years.
 
 
Small Business Loans
 

Monticello Banking Company is proud to be the leader in SBA lending in our area. We can provide our customers with the following types of SBA loans:

- The 7(a) Loan Guaranty Program
- 504 Loans

 
 
U.S.D.A. Rural Development Loans
 
USDA Rural Development Loans are used to meet the long term fixed asset purchase of any size business.
 
 
 
Agricultural Loans
 
Agricultural Loans will be made to farmers or to business customers whose products or services provide support to the agricultural economy. These loans include a wide range of terms and maturities depending on the nature and purpose of the loan.
 
 
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