Wisconsin River Bank has numerous products available to meet all your business and agricultural needs. Simply contact a business or agricultural lender at your branch to set up an appointment today.
If you wish to expedite the process, the following is a checklist of items to bring with you to your appointment:
- Three (3) years of income taxes (personal and business if applicable), including all schedules;
- A completed Personal Financial Statement (click here to download a blank copy).
If your loan request is for a new venture, please bring a business plan and projections.
As your business partner we want to make your business banking easier. Our most common business lending products are overviewed below. We also believe you will find of value a visit to our Business Resources.
Commercial Mortgage Loan
A loan used to finance the purchase of real estate (or construction). It appears on the business’ balance sheet as land and improvements (buildings). A commercial mortgage is repaid from net income of the business on a defined amortization.
A secured loan used to finance fixed assets (other than real estate), such as equipment. The term of the loan depends on the life of the asset being financed and the cash flow of the business operation.
Revolving or Seasonal Line of Credit (LOC)
Generally, a credit arrangement for financing fluctuations in current assets. The need predominantly results from a sales volume that cannot be supported by the internally generated cash flow of the business or a seasonal need, like inventory for peak times in a landscaping business. Repayment is from conversion of non-cash assets to cash, such as inventory and accounts receivable.
Permanent Working Capital
A loan used to finance cash needs. This type of loan is used when the business operation’s cash disbursements exceed its ability to generate cash internally. Repayment is from net profits.
If your business is expanding; needs 100% financing; or if you require a unique payment plan, leasing may be the option for you. Contact the lender at your local branch for more information.
Letter of Credit
A Letter of Credit is an instrument issued by a bank on behalf of a client authorizing an individual, or firm, to draw drafts on the bank, or on its account at one of its foreign correspondent banks, under certain conditions stipulated in the Letter of Credit.
Government Loan Programs
Banks will also utilize government loan program through the Small Business Administration (SBA), WHEDA, Wisconsin Department of Commerce, and other specialized programs. The requirements of these programs vary and may change over time.